The small-cap stock, Mercury Ev-Tech, has given a multibagger return of 171% in one year and a stellar 19,400% return in three years.
At 10:20 am, the shares were locked in a 5% upper circuit at ₹132.60 each on the BSE. Notably, the stock has hit the 5% upper circuit for the fifth consecutive session.
Here are 5 key reasons to watch Mercury Ev-Tech:
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Acquisition
The board of directors of Mercury Ev-Tech has approved a 70% stake in Haitek Automotive Private Limited for ₹35 lakh.
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3W Market Position
The acquisition is aimed at strengthening its position in the 3W (three-wheeler) market in West Bengal.
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Leverage Haitek’s Operations
The acquisition is expected to leverage existing operations, distribution networks, and customer base of Haitek Automotive, leading to an increase in market share and profitability.
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Appointments
Mercury's board of directors has approved the appointment of Ajay Ramkrishna Shukla as the Additional Director of the company, effective from October 1, 2024, for a term of five years.
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Other Appointments
The board also approved the appointment of Arif Rajjak Sayyad as an Additional Director in the Non-Executive, Non-Independent category, effective from October 1, 2024.