Auto stock Mercury EV-Tech surges 9 percent even markets remain volatile
Shares of Gujarat-based electric vehicles manufacturer Mercury EV-Tech Ltd are in action today. The stock has gained nearly 9 per cent even as equity benchmark indices declined in early trade, amid weak global cues. The stock started the trading session with a gain of 5.36 per cent at Rs 48 on the BSE against the previous close of Rs 45.56. The scrip gained further amid a spurt in volume and touched the high of Rs 49.60. This is a gain of 8.87 per cent from the closing price of the last trading session. Last seen, the counter was trading at Rs 48.26, with a gain of 5.93 per cent.
Technically, it is trading higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
According to BSE Analytics, the stock has been a star performer, delivering a multibagger return of 8084.75 per cent in five years and 867.74 per cent in three years. While it has gained 57 per cent in two years, the stock has corrected 34 per cent in one year. On a year-to-date basis, the stock has dipped 48.92 per cent against the gain of 4.19 per cent in the benchmark index in the same period.
The stock has reached a pinnacle with a 52-week high of Rs 139.20, achieved on October 3, 2024. The 52-week low of the car is Rs 45, a testament to its potential.
Stock markets declined in early trade amid weak global trends. While the 30-share BSE Sensex dipped 146.64 points to 81,497.75, the 50-share NSE Nifty dropped 47.5 points to 24,933.15.
From the Sensex firms, Bajaj Finance, Tata Motors, Trent, Bajaj Finserv, Kotak Mahindra Bank and Tata Motors were among the laggards. However, Eternal, Bharti Airtel, Infosys and NTPC were among the gainers.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng quoted lower.
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