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Mercator Ltd updates on Dredger-Tridevi Prem

Posted On: 2019-09-03 23:15:35

TSHD Tridevi Prem whilst at New Mangalore anchorage, on 31st August 2019 developed leak in the forward pump room leading to flooding and despite our repeated attempts to contain / arrest the leak, the dredger 'Tridevi Prem' capsized in the intervening night of 2nd and 3rd September 2019. Master and Crew abandoned the ship in the wee hours of Monday, 2 September 2019 and were rescued in a joint operation by the India Coast Guard and the New Mangalore Port Trust.

The company has initiated steps, including coordination with P&I Club and other suitable agencies for removal of wreck and oil.

The said dredger is carried in the books of the Company at the written down value of Rs.6.71 crore the said value is recognized as an expense resulting from total loss of the dredger as reduced by the salvage value of wreck, if any.

Shares of MERCATOR LTD. was last trading in BSE at Rs.1.28 as compared to the previous close of Rs. 1.34. The total number of shares traded during the day was 188115 in over 51 trades.

The stock hit an intraday high of Rs. 1.28 and intraday low of 1.28. The net turnover during the day was Rs. 240787.


Source: Equity Bulls

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