Mercator bags Rs 15 crore maintenance contract at Karaikal Port
Mercator, a diversified company in coal, oil & gas, commodity transportation, and dredging, on Wednesday announced that it has received a contract for maintenance at Karaikal Port.
The value of the contract is approx. Rs 15 crore and the work will be completed during first half of FY 2018.
The stock of the company on the NSE witnessed a sharp surge in its share price soon after the announcement and it a high of Rs 41.50 per share at 1110 hours.
The stock has delivered 29% returns in a period of one year and has underperformed the BSE Small Cap and Nifty Service Sector indices over the same time period.
Stock view :-
Mercator Ltd is currently trading at Rs 40.45, down by Rs 0.3 or 0.74% from its previous closing of Rs 40.75 on the BSE.
The scrip opened at Rs 40.5 and has touched a high and low of Rs 41.55 and Rs 40.45 respectively. So far 721777(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1099.81 crore.
The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 55.2 on 24-Apr-2017 and a 52 week low of Rs 28.65 on 06-Jun-2016. Last one week high and low of the scrip stood at Rs 42.5 and Rs 40.2 respectively.
The promoters holding in the company stood at 34.33 % while Institutions and Non-Institutions held 15.07 % and 50.61 % respectively.
The stock is currently trading below its 50 DMA.
Mercator Ltd :-
BSE 40.50 [0.25] ([0.61]%)
NSE 40.40 [0.30] ([0.74]%)
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