Shares of Mercury Ev-Tech surged over 7% on Friday, bucking the broader market downturn as investors responded positively to the company’s strong quarterly performance. The stock climbed as much as 7.24% to ₹45 on the BSE, supported by heavy buying interest.

The rally came despite a sell-off in benchmark indices, with the Sensex slipping more than 0.3% and the Nifty 50 trading below the 25,800 mark.

Investor sentiment strengthened after the company reported its highest-ever quarterly EBITDA margin of 32.5%, highlighting operational efficiency amid global economic headwinds. Management expressed confidence in sustaining EBITDA margins near 30% through FY26, citing robust performance in the first half of the year.

Mercury Ev-Tech’s net profit surged 152% year-on-year and 27% quarter-on-quarter to ₹148 crore in the September quarter, driven by strong revenue growth and improved operational metrics.

Meanwhile, the company announced the resignation of its Company Secretary and Compliance Officer, Charmy Milind Joshi. In a regulatory filing dated October 30, Mercury Ev-Tech stated that Joshi had tendered her resignation, effective immediately.

Despite the leadership change, strong financial momentum and margin outlook boosted investor confidence, helping the stock outperform the broader market.