This company announces new battery manufacturing facility in Vadodara, pilot production set to begin by...

Mercury EV-Tech Limited has announced the commissioning of a 3.2 GW lithium-ion battery manufacturing facility. According to information shared with exchanges, the new lithium-ion battery manufacturing unit will be commissioned through its subsidiary PowerMetz Energy. With this announcement, the company is also entering into the battery space.

"Mercury EV-Tech Limited, through its wholly owned subsidiary PowerMetz Energy Pvt. Ltd., has announced the commissioning of a 3.2 GW lithium-ion battery manufacturing facility at its Vadodara campus," the company said in an exchange filing.

Following this development, the stock surged and to hit an intraday high of Rs 61 on the BSE.

The stock has a 52-week high of Rs 139.20 and a 52-week low of Rs 51.24. The market cap of the company is Rs 1,118.94.

"In alignment with global automation standards, Mercury EV-Tech has placed an order for a fully robotic, high-throughput production line from one of China's top-tier equipment providers. A technical team from India is set to inspect the facility in China on April 15, 2025, ahead of machinery shipment," the company said.

The equipment is scheduled to reach the Vadodara campus by end-April, with pilot production set to begin mid-May 2025.

Meanwhile, equity benchmark indices zoomed in early trade today amid strong global cues as investors sentiment became buoyant after US President Donald Trump relaxed some of the tariffs on electronics for now.

From the Sensex firms, Tata Motors rallied 5 per cent. Larsen & Toubro, HDFC Bank, Mahindra & Mahindra, ICICI Bank and IndusInd Bank were the other big gainers. Hindustan Unilever, Asian Paints, Nestle and Kotak Mahindra Bank were the laggards.