Mercury EV-Tech Ltd inks MOU with SRBH Motors Pvt Ltd

Mercury EV-Tech Limited has inked the MOU with much acclaimed group- SRBH Motors Pvt Ltd who have developed various commercial vehicles like E-Tipper, E-Prime Movers, E-Dragger, E-Mini Bus, Cargo Containers etc at there Research and Development Centre at Mahiar, Madhya Pradesh where they have invested more than Rs. 20 Crore for the development of the R&D facility.

On singing of this MOU, this established R & D Centre will be used for the development of new range of products of "Mercury EV-Tech Limited" with good terms & conditions with the SRBH Motors Pvt Ltd.

Apart from this, both the companies have agreed to start manufacturing of Cargo Containers at Vadodara based facility by end of this month. The company has identified the location of the plant at Vadodara. This facility will produced 700-800 Containers in a year in its 1st phase.

Both the companies have committed to start the modifications and further development of the existing products of Mercury EV-Tech Limited.

Shares of Mercury EV-Tech Limited was last trading in BSE at Rs. 49.00 as compared to the previous close of Rs. 49.90. The total number of shares traded during the day was 390758 in over 318 trades.

The stock hit an intraday high of Rs. 49.90 and intraday low of 49.00. The net turnover during the day was Rs. 19258370.00.

Source : Equity Bulls

Keywords

MercuryEVTech INE763M01028 Trading Distribution MOU SRBHMotors