FIIs Increased Their Stake: Multibagger EV-Stock Under Rs 60 Jumps 5.8 Per Cent On April 11; Do You Have It?
The stock gave multibagger returns of 235 per cent in just 2 years, 6,300 per cent in 3 years and a whopping 15,700 per cent in 5 years.
On Friday, shares of Mercury EV-Tech Ltd jumped 5.8 per cent to Rs 58.50 per share from its previous closing of Rs 55.30 per share. The stock’s 52-week high is Rs 139.20 per share and its 52-week low is Rs 51.24 per share.
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 1,000 crore and reported stellar numbers in its Quarterly Results (Q3FY25) and nine-month results (9MFY25).
According to quarterly results, the net sales increased by 677 per cent to Rs 35.60 crore and net profit increased by 708 per cent to Rs 4.28 crore in Q3FY25 compared to Q3FY24. In its nine-month result, the net sales increased by 240 per cent to Rs 58.95 crore and the net profit increased by 241 per cent to Rs 6.37 crore in 9MFY25 compared to 9MFY24.
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The stock is up by 14 per cent from its 52-week low of Rs 51.24 per share. As of December 2024, FIIs bought 29,42,918 shares and increased their stake to 1.69 per cent in the company compared to September 2024. The stock gave multibagger returns of 235 per cent in just 2 years, 6,300 per cent in 3 years and a whopping 15,700 per cent in 5 years. Investors should keep an eye on this EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.