1,518% return in two years: Do you own this EV stock?

Multibagger EV Stock: Shares of Mercury Ev-Tech Ltd, which is engaged in the manufacturing of electric scooters, electric cars, electric buses, electric vintage cars, electric golf cars and electric vehicles, has given a multibagger return of 1518 per cent in two years. The stock has given a whopping 12,764 per cent return to its investors in three years.

Mercury Ev-Tech Share Price 

The counter opened in green today at Rs 109.85 against the previous close of Rs 107.10. However, last seen it was trading at Rs 105 - a fall of 1.96 per cent from the previous close.

The 52-week high of the stocks is Rs 143.80 and the 52-week low is Rs 54.

Meanwhile, the company has informed exchanges that its board has approved the allotment of 1,44,25,666 equity shares of Re 1 each fully paid up per share of the face value of Re 1 each issued at a price of Rs 75 (including premium amount of Rs 74 per share) per equity share on a preferential basis.

Consequent to the allotment, the paid-up equity capital has increased from Rs 17,55,47,392 consisting of 17,55,47,392 shares of Re 1 each to Rs 18,99,73,058 consisting of 18,99,73,058 shares.

Besides, the board has approved the allotment of 4,53,00,000 convertible warrants issued at a price of Rs 75 per warrant on a preferential basis.

Meanwhile, the Sensex and Nifty fell in early trade on Friday amid continuous foreign fund outflows and weak trends in blue-chip stocks Reliance Industries and ICICI Bank.

Market watchers said the Indian market is likely to trade sideways till clarity emerges on corporate earnings, pick up in consumption and foreign fund flows.

Meanwhile, the US Fed has cut rates for two straight meetings as the inflation print has been comfortable.

However, India, on the other hand, is facing sticky food inflation but also lower growth possibilities, they said.

The RBI will be meeting next month to unveil their monetary policy meeting.

The BSE benchmark Sensex fell by 424.42 points to 79,117.37 in early trade. The NSE Nifty declined 132.7 points to 24,066.65.

From the 30-share Sensex pack, Tata Motors, Reliance Industries, Asian Paints, Maruti, NTPC and ICICI Bank were the biggest laggards.

Infosys, Tech Mahindra, HCL Technologies, Titan, Kotak Mahindra Bank and HDFC Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,888.77 crore on Thursday, according to exchange data.