EV Stock, which is into manufacturing a wide range of Electric Vehicles hit 5 percent upper circuit in the day’s trade following the company’s announcement of raising capital on preferential basis.
At the day’s closing the shares of Mercury Ev-Tech hit 5 percent upper circuit at Rs. 58.84 and its market capitalization is Rs. 981 Crores.
As per the company’s filings, pursuant to the approval from members of the company and Bombay Stock Exchange Limited, Mercury Ev-Tech Limited’s board of directors have approved and allotted 86.80 Lakh equity shares of the company on preferential basis at a price of Rs. 33 for a aggregate value of Rs. 28.64 Crore.
It has delivered multibagger returns of 863 percent in a year and 209 percent in the last six months. A shareholders investment of Rs. 1 Lakh in the company would be worth Rs. 9.63 Lakh in a year.
In FY23 it reported revenue from operations of Rs. 16.1 Crore, Net Profit of Rs. 1.29 Crore and a Net Profit margin of 8.66 percent.
It has reported a return on equity (ROE) of 5.43 percent and a return on capital employed (ROCE) of 4.38 percent, it is making decent returns on its equity and capital employed.
Mercury Ev-Tech is into manufacturing a wide range of Electric Vehicles for a range applications for the hospitality, industry, golf courses, Club and Resorts etc.
Written by: Bharath K.S
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