Mercury Ev-Tech share price grabbed headlines on January 23, 2026, as the small-cap EV stock saw a sharp uptick of 15.5%, hitting ₹36.51 during the day. The sudden rally stood out in a session where broader equity markets showed limited movement, highlighting renewed investor interest in the electric mobility player.
Despite this surge, Mercury Ev-Tech is still trading 58% below its 52-week high of ₹87, recorded in January 2025, reflecting the stock’s rollercoaster performance over the past year. Earlier this week, it touched a 52-week low of ₹29.95, underscoring the stock’s recent volatility.
Market Performance
The spike in Mercury Ev-Tech’s stock was accompanied by a significant rise in trading volumes, indicating active investor participation:
- BSE volumes (January 23, 2026): Between 2.19 lakh and 2.27 lakh shares
- Short-term performance:
- Down 58% over the past year
- Fell 30% in the last six months
- Declined 21% over the last three months
- Lower by 8.5% in the past month
Even with these swings, Mercury Ev-Tech remains a long-term multibagger, delivering over 5000% returns in the last five years. The stock’s dramatic rise over the long term reflects its growth story in the electric vehicle and renewable energy sector, despite periods of short-term weakness.
Recent Corporate Developments
Mercury EV-Tech Limited hosted its 39th Annual General Meeting (AGM) on December 15, 2025, in Vadodara. Shareholders focused on key business and governance decisions for FY25, approving several important resolutions:
- Adoption of audited financial statements for FY25
- Reappointment of Director Darshankumar Shah
- Appointment of Riya Sharma as a non-executive independent director
- Appointment of SJV & Associates as secretarial auditors
- Authorization for the board to provide loans or securities to entities in which directors may have an interest
Chairman and Managing Director Jayesh Raichandbhai Thakkar addressed the shareholders, discussing company performance, audit observations, and strategic outlook. The AGM saw a combination of remote e-voting from December 12–14 and ballot voting at the venue.
Mercury Ev-Tech Q2FY26 Financial Performance
The company demonstrated a strong financial performance in the current fiscal year. Key highlights from Q2FY26 include:
- Net sales: ₹34.01 crore (up 51% from Q1FY26)
- Net profit: ₹1.72 crore (up 35% from Q1FY26)
- H1FY26 net sales: ₹56.58 crore (up 142% YoY)
- H1FY26 net profit: ₹2.99 crore (up 43% YoY)
Year-on-year comparisons also reflected growth:
- Q2FY26 net profit: ₹1.84 crore (up 15.7% vs ₹1.59 crore in Q2FY25)
- Revenue from operations: ₹34 crore (up over 75% YoY)
These figures suggest that Mercury Ev-Tech is gradually scaling operations and improving profitability, even amidst market volatility.
Company Overview
Founded in 1986, Mercury EV-Tech is a pioneer in electric mobility and renewable energy solutions. The company’s offerings include:
- Electric scooters, cars, and buses
- Specialised vehicles such as electric vintage cars and golf carts
- Customized EV solutions for hospitality and industrial clients
Over the years, Mercury EV-Tech has established itself as a main player in India’s EV market, blending traditional manufacturing expertise with modern electric mobility innovations.
Summary
Friday’s surge in Mercury Ev-Tech share price highlights a renewed market focus on long-term EV multibaggers. While short-term volatility persists, the company’s financial growth and strategic corporate actions suggest that Mercury EV-Tech continues to carve its niche in India’s evolving electric mobility sector.
With rising investor participation and solid underlying business performance, Mercury Ev-Tech remains a notable name in small-cap EV stocks, reflecting both the excitement and challenges of the sector.
Source: Livemint
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