Stock market update: Amid the ongoing stock market rally shares of small-cap EV company Mercury Ev-Tech Ltd. are seeing a significant surge today. With a market cap of ₹739.19 crore the companys stock has gained over 10% today. The stock has gained 25% in just one week. At the time of writing this report the stock was trading at Rs 38.93 up 7.30% or Rs 2.65 on the BSE. Last seen 439982 equity shares of the company were traded.

According to BSE Analytics the companys stock has gained more than 25 per cent in the past week while remaining flat over the past month. In the past year the stock has fallen 50 per cent. However the stock has gained more than 92 per cent in the last 3 years and more than 5619 percent in the last 5 years.

In the September quarter the companys operating revenue increased 11.36% year-on-year to ₹15.49 crore (approximately $1.44 billion) compared to ₹13.91 crore (approximately $1.39 billion) a year earlier. Total expenses in Q2 were ₹14.56 crore (approximately $1.45 billion) compared to ₹13.07 crore (approximately $1.07 billion) a year earlier. Net profit increased 28.36% year-on-year to ₹1.15 crore (approximately $1.15 billion) compared to ₹89.59 lakh (approximately $8.95 billion) a year earlier.

According to information on the companys website the company provides end-to-end solutions for all electric vehicle needs. The company manufactures key e-vehicle components such as batteries chassis and motor controllers in-house. The company also has a CED coating plant. Mercury EV Techs product portfolio ranges from two-wheelers to buses loaders and passenger vehicles.

Earlier equity benchmark indices Sensex and Nifty recovered their early lost ground and were trading higher on Tuesday morning tracking a firm trend in global markets and buying in blue-chip bank stocks.

The 30-share BSE Sensex dropped 417.68 points to 81120.02 in early trade. The 50-share NSE Nifty declined 111.1 points to 24937.55.