2 days ago
15,600% rally in five years! Small-cap EV stock jumps in a rally post RBI MPC meeting outcome
Multibagger small-cap EV stock gained in the intraday trade on Friday amid a stock market rally spurred by the Reserve Bank of India's (RBI) massive repo rate cut.
The sharp gains in the Indian stock markets following a surprise 50 basis points (bps) rate cut by the RBI Monetary Policy Committee (MPC) also supported a rally in small-cap EV stock Mercury EV-Tech Limited.
The unexpected rate cut boosted investor sentiment, pushing benchmark indices higher — the S&P BSE Sensex surged by 800 points, and the Nifty 50 crossed the 25,000 mark. In addition to the positive market momentum driven by the RBI's decision, Mercury EV-Tech Ltd also gained following a business update announcement, further fueling investor interest.
Small-cap EV stock Mercury EV-Tech business on Thursday, June 5, 2025, intimated the BSE about a business update. As per the business update announced by Mercury Ev-Tech, the company has inaugurated a new showroom located at Shop No. 5, Near Sagar Complex, Jashonath Circle, Bhavnagar, Gujarat.
In another business update, the company, in April, had announced a 3.2 GW battery manufacturing facility in Vadodara.
Mercury EV-Tech Limited, through its wholly owned subsidiary PowerMetz Energy, announced the commissioning of a 3.2 GW lithium-ion battery manufacturing facility at its Vadodara campus.
The company had informed exchanges that equipment is scheduled to reach the Vadodara campus by the end of April, with pilot production set to begin mid-May 2025.
With this, the company houses the infrastructure to develop and produce an extensive range of chemistries, including: LFP (Lithium Iron Phosphate), NMC (Nickel Manganese Cobalt), Sodium-Ion Cells and Supercapacitor Modules.
Small-cap EV stock Mercury EV-Tech touched intraday highs of ₹ 59.94 today, which translated into gains of more than 1%. The small-cap stock, despite sharp corrections in the recent past, has risen a whopping 1560% in the past five years, making Mercury EV-Tech a multibagger.
