Mercury EV-Tech Ltd's subsidiary wins order worth Rs. 110 crores

Mercury EV-Tech Limited (formerly known as Mercury Metals Limited) engaged in developing of innovative and advanced electric mobility solutions in India. Powermetz Energy Private Limited, a subsidiary of Mercury EV-Tech Limited received an open order worth Rs. 1,100 million for supply of E2W batteries to one of the leading 2W EV manufacturers of India.

- Mercury EV-Tech Limited's 80% owned subsidiary Powermetz Energy Private Limited has secured a major order worth Rs. 1,100 million to supply E2W batteries.

- Lithium-ion batteries supplied under the order will be used for their entire range of Electric 2W. The company has commenced the supply of batteries against the order and is committed to executing the order effectively & efficiently and delivering the highest quality products.

- Order win is a testament to the quality and durability of the batteries produced by Mercury EV-Tech Ltd group. This order is a significant milestone for the company, due to the fact that it ushers in a beneficial initial result for the investment in creating an EV plant.

Shares of Mercury Metals Limited was last trading in BSE at Rs. 20.37 as compared to the previous close of Rs. 21.39. The total number of shares traded during the day was 437581 in over 886 trades.

The stock hit an intraday high of Rs. 22.20 and intraday low of 20.33. The net turnover during the day was Rs. 9147695.00.

Source : Equity Bulls

Keywords

MercuryEVTech INE763M01028 PowermetzEnergy OrderWin E2WBatteries