Mercator gains on selling vessel ‘Prem Poorva’ for Rs 24.70 crore

10 Oct 2017

Mercator is currently trading at Rs. 38.45, up by 0.25 points or 0.65% from its previous closing of Rs. 38.20 on the BSE.

The scrip opened at Rs. 38.30 and has touched a high and low of Rs. 38.65 and Rs. 38.10 respectively. So far 36,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 55.20 on 24-Apr-2017 and a 52 week low of Rs. 32.90 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 38.85 and Rs. 36.85 respectively. The current market cap of the company is Rs. 1,035.00 crore.

The promoters holding in the company stood at 34.33%, while Institutions and Non-Institutions held 14.99% and 50.68% respectively.

Mercator has sold its vessel Prem Poorva for total consideration of Rs 24.70 crore to Natalia Shipping and the proceeds would be used to repay the debts. The deal was concluded on October 9, 2017.

Recently, the company had bagged a maintenance dredging Contract from Mormugao Port Trust (Goa). The contract value of this award was Rs 15.8 crore which was expected to be completed in FY18.

Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.

Related Mercator Ltd. Links:

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