The company recently announced several significant business initiatives, including announcing a merger with EV Nest Private Limited, which was approved by the National Company Law Tribunal (NCLT) in Ahmedabad.
Shares of electric vehicle company Mercury Ev-Tech are in focus today as the company has details about its expansion. The stock began the trading session at Rs 39.42, up 2.33 per cent from its previous close of Rs 38.52 on the BSE. The counter has been gaining for the last two days and has risen 1.27 per cent in the period. Last seen, the stock was trading at Rs 38.75 with a gain of 0.60 per cent. The market cap of the company stood at Rs 736.34 crore. The 52-week high of the stock is Rs 105.10, and the 52-week low is Rs 37.77.
This surge in the stock today follows a recent update from the company. The company has shared details about opening a new showroom in Gujarat. The company stated that the opening of the new showroom is part of its business expansion strategy. It is expected to further strengthen the company’s market presence and customer reach.
Mercury EV Q2 FY26 Results
In the September quarter, the company’s operating revenue increased by approximately 11.36 per cent year-on-year to Rs 15.49 crore (approximately USD 1.49 billion), compared to Rs 13.91 crore (approximately USD 1.39 billion) a year ago. Total expenses in Q2 were Rs 14.56 crore (approximately USD 1.45 billion), compared to Rs 13.07 crore (approximately USD 1.07 billion) a year ago. Net profit increased by approximately 28.36 per cent year-on-year to Rs 1.15 crore (approximately USD 1.15 billion), compared to Rs 89.59 lakh (approximately USD 8.95 billion) a year ago.
Merger with EV Nest
The company recently announced several significant business initiatives, including announcing a merger with EV Nest Private Limited, which was approved by the National Company Law Tribunal (NCLT) in Ahmedabad.
In addition, the company has received approval from the International Centre for Automotive Technology (ICAT) to manufacture a special-purpose four-wheeled goods carrier vehicle called ‘MUSHAK EV.’ This approval represents a significant milestone for the company, providing it with the opportunity to advance the production and sales of this new vehicle.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
