Mercator Wins Contract from Paradip Port (India)

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Posted January 1, 2019

Shares of Mercator climbed 3% in intraday trade on Thursday as the company announced that it has emerged as the lowest bidder for maintenance dredging of 7mn CUM quantity for 3 years at Paradip Port.

“The contract value is Rs167.61cr expected to be completed over a period of 36 months,” the company announced in a BSE filing on Thursday afternoon.

Mercator Limited has shipping, dredging, coal mining, infrastructure, and oil exploration businesses.

Mercator Ltd is currently trading at Rs13.13 up by Rs0.09 or 0.69% from its previous closing of Rs13.04 on the BSE.

The scrip opened at Rs13.01 and has touched a high and low of Rs13.60 and Rs12.52 respectively. So far 18,40,667 (NSE+BSE) shares were traded on the counter.

Source: IIFL