Mercator jumps after acquiring VLGC

Mercator rose 5.45% to Rs 22.25 at 10:59 IST on BSE after the company said it has acquired one 1992 built VLGC, or very large gas carrier.

The company made the announcement after trading hours on Thursday, 20 March 2014.

Meanwhile, the BSE Sensex was up 30.47 points, or 0.14%, to 21,770.56.

On BSE, so far 2.79 lakh shares were traded in the counter, compared with an average volume of 1.46 lakh shares in the past one quarter.

The stock hit a high of Rs 22.70 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 21.40 so far during the day. The stock hit a 52-week low of Rs 9.10 on 6 August 2013.

The stock had outperformed the market over the past one month till 20 March 2014, rising 19.21% compared with the Sensex's 5.86% rise. The scrip had also outperformed the market in past one quarter, rising 10.76% as against Sensex's 3.13% rise.

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

On a consolidated basis, Mercator reported a net profit of Rs 17.16 crore in Q3 December 2013 compared with net loss of Rs 229.26 crore in Q3 December 2012. Net sales rose 17.3% to Rs 949.66 crore in Q3 December 2013 over Q3 December 2012.

Mercator group has diversified business interests in coal, oil & gas, commodity transportation and dredging.

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