By Samannay Biswas
Copyright timesnownews
Mercury EV-Tech Limited, a manufacturer of electric scooters, cars, buses, and vintage vehicles, witnessed notable gains in its shares on September 22, 2025. The stock traded at Rs 51.44, up 0.84% on the day, with an intra-day high of Rs 51.93. The rally was primarily driven by the approval of a merger between Mercury EV-Tech and EV Nest Private Limited by the National Company Law Tribunal (NCLT). The merger was sanctioned under Sections 230 to 232 of the Companies Act, 2013, and Mercury EV-Tech is expected to file the necessary e-form INC-28 with the Registrar of Companies within 30 days to formalize the process. Regulatory Milestones and Product Approvals Adding to investor optimism, the International Automotive Technical Center (ICAT) has granted regulatory clearance for Mercury’s MUSHAK EV, a 100% “Make in India” battery-powered four-wheeler in the N1 category. The vehicle features a gross vehicle weight of 2,085 kg, seating for two, and a maximum speed of 69 km/h. This marks a significant regulatory milestone for the company and opens doors to new business opportunities. Expansion and Manufacturing Strength The company continues to bolster its infrastructure, launching a new EV showroom in Bhavnagar under the Make in India initiative. Additionally, Mercury is building a large lithium-ion battery factory in Vadodara as part of its vertically integrated model, aiming to strengthen its production capabilities and long-term growth. Multibagger Returns Mercury EV-Tech has delivered impressive returns over the years. Its market capitalization stands at Rs 969 crore, and the stock has surged over 7% in the past week alone. Over three years, the company has delivered a 547% return, and over five years, it has generated a staggering 2,875% multibagger return. Investors are increasingly optimistic, particularly as the Indian government continues to promote EV adoption across the country. Strong Financial Performance The company’s financial performance further reinforces its growth story. Mercury EV-Tech reported a 307% increase in net sales in FY2025, and revenue rose 482% in Q1 FY2026. Approval for the MUSHAK EV is expected to further boost operational performance and expand future growth prospects. With regulatory approvals, strategic mergers, and a strong product pipeline, Mercury EV-Tech continues to attract investor attention, making it one of the most watched EV stocks under Rs 60 in the Indian market.
