Mercury Ev-Tech jumps on getting nod to acquire 65% stake in Traclaxx Tractors
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Mercury Ev-Tech is currently trading at Rs. 75.45, up by 1.36 points or 1.84% from its previous closing of Rs. 74.09 on the BSE.
The scrip opened at Rs. 74.98 and has touched a high and low of Rs. 75.50 and Rs. 70.50 respectively. So far 280978 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 143.80 on 13-Dec-2023 and a 52 week low of Rs. 17.71 on 10-May-2023.
Last one week high and low of the scrip stood at Rs. 79.95 and Rs. 70.50 respectively. The current market cap of the company is Rs. 1324.51 crore.
The promoters holding in the company stood at 62.10%, while Non-Institutions held 37.89% stake in the company.
Mercury Ev-Tech has received approval for the acquisition/purchase of 65% stake in Traclaxx Tractors, equivalent to 5,23,900 equity shares of Rs. 10 each at a price of Rs 10 each, total consideration being Rs 52.39 lakh. Henceforth, Traclaxx Tractors will be considered as Subsidiary Company of Mercury EV-Tech. The Board of Directors of the Company in their Meeting held on May 08, 2024, has approved the same.
Mercury Ev-Tech is pioneer in the manufacturing of Electric Scooter, Electric Car, Electric Bus, Electric Vintage car, Electric Golf Car and Electric Vehicles in India. The company develops custom electric vehicles for a wide range of applications for the hospitality, industry, golf courses, Club and Resorts etc.
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