2,500 per cent returns in this multibagger stock: Micro-cap company looks to capitalize on growing EV demand!
The company received ISO 9001:2015 Quality Management Systems (QMS) certification for manufacturing and exporting of various batteries.
On Wednesday, shares of Mercury EV-Tech Limited jumped 5 per cent to Rs 25.03 per share, hitting the upper circuit, from its previous closing of Rs 23.84. The stock also reached a new 52-week high of Rs 25.03 per share.
Mercury EV-Tech Limited, engaged in the development of innovative and advanced electric mobility solutions in India, plans to manufacture a wide range of electric vehicles, including 2W (Low Speed), 2W (High Speed), 3W (Low Speed-Passenger), 3W (Low Speed-Loader), 3W (High Speed-Passenger), 3W (High Speed-Loader), 4W (High-Speed Loader), 12-seater off-road Bus, and 56-seater bus. The company is already manufacturing 2W and 3W lithium-ion batteries for industry leaders through its subsidiary, PowerMetz Energy Private Limited.
The company has received an open order worth Rs 110 crore for the supply of lithium-ion batteries from one of the leading 2W EV manufacturers in India, which is expected to be a game changer for the industry in the future. Recently, the company announced that it has received an L3 license for 3W passengers and 3W loaders.
Recently, Mercury EV-Tech Limited, through its 80 per cent owned subsidiary Powermetz Energy Private Limited, received ISO 9001:2015 Quality Management Systems accreditation for its activities as a manufacturer and exporter of various grades of battery packs, such as Lithium-ion, LiFePO4, LFP, and other Advanced Chemistry Battery Packs.
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Mercury EV-Tech Ltd, formerly known as Mercury Metals Limited, is involved in the manufacturing of electric scooters, electric cars, electric buses, electric vintage cars, electric golf cars, and electric vehicles in India.
The stock has provided multibagger returns of 202 per cent in just 6 months and over 2,000 per cent in 1 year. Investors should keep an eye on this micro-cap stock.