Multibagger EV-stock at Rs 80: This micro-cap company receives a licence for battery-operated E-Rickshaw in Gujarat state!

The stock gave multibagger returns of 280 per cent in just 1 year, 10,890 per cent in 3 years and a whopping 21,500 per cent in 5 years.

Mercury EV-Tech Limited, formerly Mercury Metals Limited, was approved on April 29, 2024, to sell electric vehicles in Gujarat. This approval allows the company to sell a specific E-rickshaw model – a passenger battery-operated three-wheeler with a Gross Vehicle Weight (GVM) of 1050 kg, seating capacity for 7 people (6 passengers and 1 driver), and no designated load carrying capacity. The approval is issued by the Commissioner of Transport, Gujarat and is valid in perpetuity, allowing Mercury EV-Tech to continuously sell these vehicles and potentially increase their revenue stream. There is currently no information regarding withdrawal, cancellation, or suspension of this approval.

Earlier, Mercury EV-Tech received approval from the Delhi government to sell two electric vehicle models: a first-of-its-kind seven-seater passenger e-rickshaw and a single-seat e-cart loader with a 488 kg capacity. This permanent approval allows them to directly sell these vehicles to customers, potentially boosting their revenue stream, and the company extends gratitude to its supporters.

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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 company has a market cap of over Rs 1,300 crore and reported positive numbers in Quarterly Results (Q3FY24) and annual results (FY23).

The stock’s 52-week high is Rs 143.8 and its 52-week low is Rs 9.34. The stock gave multibagger returns of 280 per cent in just 1 year, 10,890 per cent in 3 years and a whopping 21,500 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.