Mercator Lines shares rose 4.21 per cent to Rs 69.3 on reports that the company is planning to buy 3 bulk vessels . The company is said to acquire three Panamax bulk carriers totalling 2.77 lakh dead-weight tonnage on a charter basis at a cost of Rs 500 crore .
Out of the three vessels proposed to be acquired, two are from the New Yangzijiang Shipyard in China and the third vessel is from Sungdong Shipyard in South Korea. The vessels will be bought under its Mercator Lines (Singapore) subsidiary. The stock made an intra-day high of Rs 70.65 and a low of Rs 67.25 with trading volumes of 14.9 lakh shares.
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