Mercator jumps after arm bags mining lease
Mercator rose 3.75% to Rs 22.15 at 9:41 IST on BSE after the company announced that its group firm bagged mining lease for exploiting oil discoveries in block CB-ONN-2005/9.
The announcement was made after market hours yesterday, 27 June 2018.Meanwhile, the S&P BSE Sensex was down 24.55 points, or 0.07% to 35,192.56.
On the BSE, 1.96 lakh shares were traded in the counter so far compared with average daily volumes of 1.24 lakh shares in the past two weeks. The stock had hit a high of Rs 22.75 and a low of Rs 21.75 so far during the day.
The stock hit a 52-week high of Rs 49 on 1 November 2017. The stock hit a 52-week low of Rs 21.05 on 27 June 2018.
On a consolidated basis, Mercator reported net loss of Rs 85.15 crore in Q4 March 2018 as against net loss of Rs 49.63 crore in Q4 March 2017. Net sales declined 56.97% to Rs 192.18 crore in Q4 March 2018 over Q4 March 2017.
As a group, Mercator has diversified business interests in coal, oil & gas, commodity transportation and dredging.
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First Published: Jun 28 2018 | 9:58 AM IST