FIIs increase stake in FY25: Multibagger EV stock under Rs 65 jumps over 5 per cent on June 27
In FY25, FIIs took a fresh entry and bought 36,43,605 shares or 1.92 per cent compared to FY24.
On Friday, shares of Mercury EV-Tech Ltd jumped over 5 per cent to Rs 61.20 per share from its previous closing of Rs 58.20 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, a leading electric vehicle solutions provider based in Gujarat, offers end-to-end EV solutions, including in-house manufacturing of crucial components like batteries, chassis, and motor controllers, supported by a CED coating plant for quality and cost control. Committed to "Atmanirbhar Bharat," they are establishing one of India's largest Lithium-Ion battery manufacturing facilities in Vadodara with a 3.2 GW capacity, expected to begin pilot production by mid-June 2025, which will produce various battery chemistries for diverse EV and Battery Energy Storage System (BESS) applications. With dedicated R&D centres and strategic in-house manufacturing, Mercury EV Tech is well-positioned to capitalise on India's rapidly growing EV and BESS markets, driven by supportive government policies and increasing demand for clean energy solutions.
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The company has a market cap of over Rs 1,100 crore and reported stellar numbers in its Quarterly Results (Q4FY25) and annual results (FY25). According to quarterly results, the net sales increased by 451 per cent to Rs 30.68 crore and net profit increased by 470 per cent to Rs 1.34 crore in Q4FY25 compared to Q4FY24. In its annual results, the net sales increased by 307 per cent to Rs 89.64 crore and the net profit increased by 286 per cent to Rs 7.70 crore in FY25 compared to FY24.
Mercury EV Tech has opened a new EV showroom in Bhavnagar, attended by prominent political figures and company leadership. Located near Jashonath Circle, the showroom aims to be a central hub for "Make in India" electric vehicles. Chairman Shri Jayesh Thakkar emphasised the environmental and cost-saving benefits of EVs, aligning with the vision for a self-reliant and pollution-free India. The showroom will offer a wide range of electric vehicles, from two-wheelers to tempos, marking a step towards an EV-powered Bhavnagar.
The stock is up by 19.4 per cent from its 52-week low of Rs 51.24 per share. In FY25, FIIs took a fresh entry and bought 36,43,605 shares or 1.92 per cent compared to FY24. The stock gave multibagger returns of 5,040 per cent in 3 years and a whopping 15,900 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.