EV Stocks Defy Market Weakness: Mercury EV-Tech Surges Over 7% Amid Broader Market Decline

Even as the Indian stock market witnessed a decline on Friday, select EV stocks stood out with strong gains. Mercury EV-Tech shares jumped 7.24% to hit ₹45 per share on the BSE, driven by robust buying interest. This surge came despite selling pressure in benchmark indices — the BSE Sensex fell over 0.3%, while the Nifty 50 slipped below 25,800 to close at 25,722.10.

Company update: Resignation of Company Secretary
Mercury EV-Tech informed exchanges that its Company Secretary and Compliance Officer, Charmi Milind Joshi, has resigned. In a regulatory filing dated October 30, 2025, the company stated that Joshi will continue to serve in her role until November 24, 2025.

The small-cap company manufactures a range of electric vehicles, including three-wheelers, commercial EVs, and industrial fleets, along with key EV components such as batteries, chassis, and motor controllers.

Stock performance: A volatile ride
Despite today’s gains, Mercury EV-Tech’s stock has been under pressure in recent months. The shares have fallen 7% in the past month, 12% in three months, and 32% over six months. Year-to-date (YTD), the stock is down 54%, and over the last one year, it has dropped more than 60%.