Mercator gains for second day in a row after new order win

Mercator rose 1.25% to Rs 40.50 at 15:25 IST on BSE, with the stock extending yesterday's gains triggered by the company's announcement that one of its vessels has secured a time charter contract of total value of about Rs 120 crore.

Meanwhile, the S&P BSE Sensex was down 79.53 points or 0.3% at 26,228.45

On the BSE, 1.72 lakh shares were traded on the counter so far as against average daily volumes of 4.64 lakh shares in the past one quarter. The stock hit a high of Rs 40.80 and a low of Rs 39.10 so far during the day.

The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.11% compared with the 2.11% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 16.84% as against Sensex's 7.72% decline.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Re 1.

Shares of Mercator had gained 5.12% to settle at Rs 40 yesterday, 20 December 2016 boosted by the company's announcement that one of its vessels has secured a time charter contract of total value of about Rs 120 crore. The period of contract is four years (inclusive of charterers options) and the charter will commence from January 2017. The announcement was made during market hours yesterday, 20 December 2016.

Mercator reported net loss of Rs 27.05 crore in Q2 September 2016 compared with net profit of Rs 14.59 crore in Q2 September 2015. Net sales declined 19.58% to Rs 133.28 crore in Q2 September 2016 over Q2 September 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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