Small-cap stock below ₹100: Mercury Ev-Tech Ltd share price gained 5% during the intrady trades on Friday, despite lacklustre and weak markets. Benchmark Sensex and Nifty -50 index remained range bound with a negative bias.
Mercury Ev-Tech share price opened at ₹86.93 on the BSE on Friday, slightly higher than previous close of ₹86.18. The Mercury Ev-Tech share price thereafter gained almost 5% to intraday highs of ₹90.48 and was alos locked in the upper circuit, since upewr price band also stood at ₹90.48.
The Mercury Ev-Tech share price that was trading at ₹0.3 levels during 2019, has there after given Multibagger returns to the investors and Mercury Ev-Tech share price has risen 26,511% since then .
Mercury Ev-Tech share price gained despite Sensex losing 0.35% and Nifty-50 index declining up to half a percent during the intraday trades.
Mercury Ev-Tech recently announced receiving approval for the incorporation of a subisidiary.
Mercury Ev-Tech in its release on the exchanges recently had said that Board of Directors of the company in a meeting on 17 December had decided decided to incorporate of a New Subsidiary Company of the Mercury Ev-Tech Limited with the proposed name as “GLOBAL MERCURY CONTAINER PRIVATE LIMITED” as approved by the Ministry of Corporate Affairs, Government of India. It will also make an investment of 60,000 shares having face value of Rs. 10/- each comprising of 60% stake in the proposed Company
The main object of the proposed company will be Manufacturing & dealing of containers, ISO shipping containers, top cover mechanism for containers, skeleton containers and special purpose containers.
Mercury Ev-Tech will be subscribing 60% of its Paid up capital by subscribing 60,000 equity shares amounting to Rs. 6,00,000/-. The proposed subsidiary Global Mercury Container Pvt Ltd has an authorized Capital: Rs. 10,00,000/- and Paid up Capital: Rs. 10,00,000 /-
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