Mercator Share Price Is Quoting Above 4%

Previously during this month, Mercator declared the closure of bids for its qualified institutional placement (QIP).  In a filing to BSE, the company said that it approved an issue price of Rs 40.75 per share, after giving discount of 4.79 per cent, or Rs 2.05 apiece, on the floor price of Rs 42.80 per share. The company has given confirmation allocation note to allocate 2,50,00,000 equity shares to the QIBs. The QIP was opened for bids on 11^th January.  The floor price was decided on the basis of the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations.

Mercator Ltd. was incorporated in the year 1983. It is a Small Cap company which has a market cap of Rs 1099.57 Cr. and operates in the transportation logistics sector.

Mercator Ltd. key Products/Revenue Segments are Demurrage which contributes Rs 291.21 Cr to Sales Value (49.49 per cent of Total Sales), Freight & Demurrage which contributed Rs 291.21 Cr to Sales Value (49.49 per cent of Total Sales), Charter Hire which contributed Rs 265.39 Cr to Sales Value (45.11 per cent of Total Sales) and Cargo Income which contributed Rs 31.71 Cr to Sales Value (5.38 per cent of Total Sales) for the year ending 31^st Mar 2016.

Stock View:

Mercator share price opened at Rs 44.90, up by Rs 1.95 or 4.33% from its previous closing of Rs 45.05 on the NSE. The scrip is trading at Rs. 47 and touched a high and low of Rs 48 and Rs 43.50 respectively. A total of 1,72,99,059 shares are traded on the counter. The current market cap of the company is Rs 1103.24 (Cr). The stock has a face value Rs 1 touched a 52 week high of Rs 54.60 on 06-Sep-2016 and a 52 week low of Rs 16 on 12-Feb-2016.  

Mercator is one of the top 500 performing stocks for this quarter as identified by Dynamic Levels.