Mercury EV-Tech Ltd Shares Surge 5% Amid Strategic Acquisitions and Expanding Electric Vehicle Portfolio

Mercury EV-Tech Ltd has seen its share price rise to ₹105.80, marking a 5% increase from the previous closing price of ₹100.80. The company’s stock has experienced significant appreciation, achieving a 145% increase over the last year, 16,000% over the past three years, and a staggering 35,000% over the past five years. Its shares reached a 52-week high of ₹143.80 and a low of ₹46.10. Notably, institutional top management holds a substantial 62.10% ownership, with 39.90% held by the public.

The recent price surge can be attributed to several key developments:

  1. Acquisition of Haitek Automotive: Mercury EV-Tech has acquired a 70% stake in Haitek Automotive Private Limited, an electric vehicle manufacturer specializing in three-wheelers based in West Bengal. This acquisition, valued at ₹3.5 million in cash, aims to enhance Mercury’s presence in the rapidly growing electric vehicle market in the state. It also allows the company to leverage Haitek’s established distribution networks and customer base, which is expected to increase profitability and expand market share.
  2. Gujarat E-Rickshaw Approval: The company has received approval from the Gujarat Energy Development Agency (GEDA) to launch and market lithium-ion battery-powered e-rickshaws in Gujarat during the fiscal year 2024-25. The Mercury L5 and L3 e-rickshaws now qualify for a government subsidy of ₹48,000 on each unit sold, which is anticipated to boost sales and strengthen Mercury’s position in the Gujarat electric vehicle market.
  3. Joint Venture for Hydrogen Technology: Mercury EV-Tech announced a Memorandum of Understanding (MOU) with Hydrogen Horizons UK and Israel to establish a joint venture focused on commercializing the Hydra Pak, a patented hydrogen vessel technology. This partnership is designed to advance technology for hydrogen storage and fuel applications, with an equity distribution of 60% for Hydrogen Horizons and 40% for Mercury.
  4. Brand Evolution: Originally incorporated as Mercury Metals Limited, the company has rebranded as Mercury EV-Tech Ltd, expanding its portfolio to include a range of electric vehicles, such as scooters, cars, buses, vintage cars, and golf carts.
  5. Robust Market Position: With a market capitalization surpassing ₹2,000 crore, Mercury EV-Tech has reported strong financial performance in FY25 Q1 and the end of FY24, highlighting its effective market development strategies and innovative initiatives.

Overall, Mercury EV-Tech’s focus on strategic acquisitions, product innovation, and partnerships positions the company favorably within the rapidly evolving Indian electric vehicle landscape, paving the way for future growth and a commitment to sustainable practices.

Disclaimer: This communication is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results.


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