Mega Nirman's EV Stock Surges 10% After NHEV Partnership for 660 Charging Points

The shares of Mega Nirman and Industries Ltd (MNIL), a company specializing in trading small passenger electric vehicles and their components, surged by 10% following a strategic partnership with the National Highways for Electric Vehicles (NHEV). The partnership involves the deployment of 660 EV charging points across India’s 5,500 km e-highway network. This initiative is a significant step towards strengthening the country’s EV ecosystem and promoting seamless long-distance electric mobility.

With a market capitalization of Rs. 115.11 Crores on the day of the trade, the shares of MNIL reached a high of Rs. 44.96, compared to its previous close of Rs. 40.89. The partnership is expected to accelerate the adoption of electric vehicles by reducing range anxiety and enabling smoother intercity travel, aligning with national sustainability goals.

MegaCharge, a subsidiary of MNIL, will be responsible for deploying and maintaining advanced AC and DC fast-charging stations. The project is part of MegaCharge’s ambitious vision to establish 5,000 EV charging points across India by 2030. This initiative aims to create a robust intercity charging backbone connecting major cities and economic hubs, thereby reinforcing MegaCharge’s position as a growing player in India’s EV infrastructure space.

The partnership with NHEV is expected to significantly enhance the EV ecosystem in India. NHEV is an initiative to develop EV charging infrastructure across major highway corridors, aiming to convert about 5,500 km across 26 highways in 14 states into “e-highways” by 2030. The project will include integrated charging, battery swapping, and roadside support under a public-private partnership model.

MegaCharge is an EV charging infrastructure and technology company dedicated to accelerating electric mobility in India. It provides AC/DC charging systems with smart features like Dynamic Load Balancing and a digital platform for managing charging services. The company has already deployed over 20 charging points across Delhi NCR and Kanpur, with plans to expand into cities like Lucknow and Dehradun.

NHEV, on the other hand, is a government initiative focused on developing a comprehensive EV charging infrastructure. The initiative aims to support the growth of the EV market by providing reliable and accessible charging solutions, thereby reducing the barriers to EV adoption.

Financially, MNIL has shown strong performance. The company’s revenue increased by 21.01 percent from Rs. 5.14 crores in December 2024 to Rs. 6.22 crores in December 2025. Net profit also rose from Rs. 0.11 crores to Rs. 0.35 crores in the same period. MNIL, an Indian publicly listed company incorporated in 1983 and headquartered in New Delhi, has diversified into various sectors, including precious metals, gemstones, and jewellery trading. Over the years, it has expanded into real estate and infrastructure-related activities, and more recently, into new-age businesses such as EV charging solutions, EV batteries, and smart mobility infrastructure.

MNIL aims to build integrated solutions combining real estate development with clean energy and EV ecosystem services, focusing on sustainable and technology-driven growth in India. This strategic partnership with NHEV is a testament to the company’s commitment to innovation and large-scale expansion in the EV sector, positioning it as a key player in the country’s transition to cleaner and more efficient transportation.

The collaboration between MegaCharge and NHEV is expected to have a significant impact on the Indian EV market, accelerating the adoption of electric vehicles and contributing to the nation’s sustainability goals. As the project progresses, it will be crucial to monitor the implementation and effectiveness of the charging infrastructure to ensure it meets the needs of EV users and supports the broader transition to electric mobility.