/ Mercator's Subsidiary Awarded Two Oil Blocks Stock Up By 3% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 30 January 2017

Mercator, which was formerly known as Mercator Lines is the stock in focus, owing to the recent development pertaining to the subsidiary of the company Mercator Petroleum Ltd.,(MPL) having been awarded 2 oil blocks in the Cambay Basin under NELP VII, at the hands of the Government of India.

The stock of the company has reacted positively to the news, and the stock has witnessed a spurt in volume by more than 71.31 times. In the last one year, the stock has been a multi-bagger, giving a return of 100.86%, outperforming the BSE Small-cap index as well. 

Goldman Sachs is the only fund house which has invested in the stock.The Mercator Group is operational in commodity transportation, oil and gas, dredging and coal. Mercator Ltd is currently trading at Rs 46.6, up by Rs 1.7 or 3.79% from its previous closing of Rs 44.9 on the BSE.

The scrip opened at Rs 45.2 and has touched a high and low of Rs 47.6 and Rs 42.55 respectively. So far 42395263(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1211.82 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 54.55 on 06-Sep-2016 and a 52 week low of Rs 15.9 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 46.35 and Rs 42.7 respectively.

The promoters holding in the company stood at 40.55 % while Institutions and Non-Institutions held 15.17 % and 44.29 % respectively. The stock is currently trading above its 100 DMA.

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