DSIJ Mindshare

26,000 per cent returns in this multibagger stock: This EV micro-cap company signed MoU with israeli company named Hydrogen Horizons Ltd
Prajwal Wakhare
/ Categories: Trending, Multibaggers

26,000 per cent returns in this multibagger stock: This EV micro-cap company signed MoU with israeli company named Hydrogen Horizons Ltd

The stock gave multibagger returns of 491.23 per cent in just 1 year, 4122.61 per cent in 3 years and a whopping 26,070.59 per cent in 5 years.

Mercury EV-Tech Limited has forged a Memorandum of Understanding (MOU) with Hydrogen Horizons Ltd ("HHL") and Hydrogen Horizons Israel Ltd ("HHIL") on February 27, 2024. This agreement, between HHL registered in the United Kingdom and HHIL in Israel, sets the stage for a joint venture with Mercury Group to establish a new entity focused on commercializing patented hydrogen vessel technology known as the Hydra Pak.

The partnership aims to develop and manufacture this innovative product, with Mercury Ev-Tech Limited and HHL acquiring shares in the new entity at a ratio of 60:40, while no initial consideration is exchanged.

As part of the MOU, HHL will facilitate an agreement between the new entity and Mentana Group, a Canadian company, to secure an initial purchase order for Hydra Pak Units. This agreement grants Mentana Group exclusive rights for sales and distribution throughout Canada, contingent upon the formation and capitalization of the new entity within one month.

DSIJ offers a service 'Pop BTST" with recommendations for intraday stocks for tomorrow based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here

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 company has a market cap of Rs 2,166 crore.

According to Quarterly Results, the net sales increased by 6.51 per cent to Rs 4.58 crore and net profit plummeted by 48.03 per cent to Rs 0.53 crore in Q3FY24 compared to Q3FY23. In its annual results, the net sales increased by 1,038 per cent to Rs 13.42 crore and net profit increased by 283 per cent to Rs 0.88 crore in FY23 compared to FY22.

Today, shares of Mercury EV-Tech Ltd jumped 3.90 per cent to Rs 89 per share from its previous closing of Rs 85.64. The stock’s 52-week high is Rs 143.8 and its 52-week low is Rs 10.50.

The stock gave multibagger returns of 491.23 per cent in just 1 year, 4122.61 per cent in 3 years and a whopping 26,070.59 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.

Previous Article LIC-backed multibagger power stock & FIIs increase stake: Company receives letter of award for 700-MW ISTS-connected solar capacity from SJVN Ltd
Next Article Multibagger stock below Rs 20: Aditya Birla Group's stock big fundraising plans; will it be an alpha generator? Promoters to participate!
Print
2185 Rate this article:
3.7
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR