Mercator surges on selling FSO Ship for Rs 49.54 crore

20 Jan 2020

Mercator is currently trading at Rs. 0.81, up by 0.03 points or 3.85% from its previous closing of Rs. 0.78 on the BSE.

The scrip opened at Rs. 0.79 and has touched a high and low of Rs. 0.81 and Rs. 0.78 respectively. So far 240561 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 11.30 on 18-Jan-2019 and a 52 week low of Rs. 0.69 on 01-Jan-2020.

Last one week high and low of the scrip stood at Rs. 0.81 and Rs. 0.73 respectively. The current market cap of the company is Rs. 24.50 crore.

The promoters holding in the company stood at 19.57%, while Institutions and Non-Institutions held 4.78% and 75.65% respectively.

Mercator has sold its Floating Storage and Offloading Unit (FSO) Ship - Prem Pride, built 1999, for a total consideration of Rs 49.54 crore and the proceeds of which is used to reduce the debt of the company. The deal was concluded on January 16, 2020.

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.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323