Mercator recovers on bargain hunting

Mercator advanced 3.73% to Rs 37.55 at 10:59 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was down 183.45 points or 0.58% at 31,416.31.

On the BSE, so far 1.01 lakh shares were traded on the counter as against average daily volumes of 2.18 lakh shares in the past two weeks. The stock had hit a high of Rs 37.65 and a low of Rs 35.80 so far during the day. The stock had hit a 52-week high of Rs 55.20 on 24 April 2017 and a 52-week low of Rs 32.90 on 22 November 2016.

The small-cap company has equity capital of Rs 26.99 crore. Face value per share is Rs 1.

Shares of Mercator had declined 13.29% in preceding five trading sessions to settle at Rs 36.20 yesterday, 26 September 2017, from its close of Rs 41.75 on 19 September 2017.

On a consolidated basis, Mercator reported net loss of Rs 28.70 crore in Q1 June 2017, compared with net profit of Rs 22.09 crore in Q1 June 2016. Net sales declined 48.4% to Rs 301.37 crore in Q1 June 2017 over Q1 June 2016.

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

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