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Shares of Mercury Ev-Tech Limited a small-cap EV company with a market cap of Rs 738.62 crore are seeing a strong rally today. At the time of writing the stock was trading down 0.93 percent or Rs 0.36 at Rs 38.88 on the BSE. This surge in the stock today follows a recent update from the company. The company announced after market hours on Tuesday that it had opened a new showroom in Gujarat. This showroom was opened in Porbandar. The company stated that the opening of the new showroom is part of its business expansion strategy. It is expected to further strengthen the companys market presence and customer reach. In the September quarter the companys operating revenue increased by approximately 11.36% year-on-year to ₹15.49 crore (approximately $1.49 billion) compared to ₹13.91 crore (approximately $1.39 billion) a year ago. Total expenses in Q2 were ₹14.56 crore (approximately $1.45 billion) compared to ₹13.07 crore (approximately $1.07 billion) a year ago. Net profit increased by approximately 28.36% year-on-year to ₹1.15 crore (approximately $1.15 billion) compared to ₹89.59 lakh (approximately $8.95 billion) a year ago. The company recently announced several significant business initiatives including announcing a merger with EV Nest Private Limited which was approved by the National Company Law Tribunal (NCLT) in Ahmedabad. In addition the company has received approval from the International Centre for Automotive Technology (ICAT) to manufacture a special-purpose four-wheeled goods carrier vehicle called MUSHAK EV. This approval represents a significant milestone for the company providing it with the opportunity to advance the production and sales of this new vehicle. Further driving its growth the company is focusing on promoting Make in India EVs and building a vertically integrated business model. Mercury Ev-Tech has also opened a new EV showroom in Bhavnagar and is constructing a large lithium-ion battery manufacturing plant in Vadodara.