Meanwhile, the BSE Sensex was down 41.15 points, or 0.22%, to 18,603.91
On BSE, 25.01 lakh shares were traded in the counter as against an average daily volume of 5.15 lakh shares in the past one quarter.
The stock hit a high of Rs 56.15 and a low of Rs 51.90 so far during the day. The stock had hit a 52-week high of Rs 72.15 on 15 January 2010 and a 52-week low of Rs 42 on 3 November 2009.
The stock had underperformed the market over the past one month till 7 September 2010, falling 0.19% compared with the Sensexs 2.76% rise. However, it outperformed the market in past one quarter, surging 16.80% as against 11.11% rise in the Sensex.
The mid-cap shipping company has an equity capital of Rs 23.60 crore. Face value per share is Re 1.
Mercator Lines Executive Chairman H K Mittal was quoted as saying that the company is looking at acquiring coal mines in Indonesia. Speaking on the sidelines of companys annual general meeting in Mumbai on 7 September 2010, Mittal added that the expansion will be financed through internal accruals and debt.
On a consolidated basis, Mercator Lines net profit rose 38.70% to Rs 61.70 crore on a 34% rise in net sales to Rs 599.27 crore in Q1 June 2010 over Q1 June 2009.
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