Mercator shares gain 60% in a month on restructuring talks

Shares of Mumbai-based Mercator have gained close to 60% in the past one month on speculation that the company is planning to restructure its businesses.

The company, which is currently engaged in dredging, oil and gas, shipping and coal trading, is likely to announce a restructuring of its businesses wherein the dredging business will be kept in a separate company whereas its other businesses will be moved into a separate entity, a source close to the development in the company said. Shares of Mercator gained 6.4% to close at Rs 23.45 on the BSE on Tuesday.

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