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.
Related articles
-
FIIs Bought 30,00,000 Shares: Multibagger EV-Stock Under Rs 100 Hit Upper Circuit With Heavy Volume; Here’s Why
-
FIIs Bought 30,00,000 Shares: Multibagger EV-Stock Under Rs 100 In Focus As Company Incorporates As New Subsidiary For Business Expansion
-
EV Stock with 29,500 Per cent Multibagger Returns; Company Reports 253 Per Cent Revenue Growth While Profit Soars 171 Per Cent in Q2FY25 – FIIs Bought 2,80,875 Share
-
Multibagger EV-Stock Under Rs 120 in Green as Board Allocates 1,44,25,666 Equity Shares to 40 Investors & 4,53,00,000 Convertible Warrants to 19 Investors
-
FIIs took a fresh entry & bought 2,73,232 shares of this multibagger EV-stock under Rs 110 with 30,000 per cent returns; Hit upper circuits on October 30