Mercator Lines subsidiary concludes acquisition of 4 vessels

Mercator Lines Ltd has announced that with reference to execution of MOA by the Company's Singapore based subsidiary for acquisition of 4 nos. dry bulk vessel of about 305,000 in aggregate, the Company's subsidiary Mercator Lines (Singapore) Pte. Ltd. has taken delivery of new built panamax vessel of 74,456 DWT.

With this the Subsidiary has concluded its acquisition of above mentioned four vessels successfully. All the vessels have been deployed gainfully since their respective acquisitions.

The stock closed the day at Rs.47.85, up by Rs.0.65 or 1.38%. The stock hit an intraday high of Rs.48.50 and low of Rs.47.10. The total traded quantity was 155711 compared to 2 week average of 374809.

Source : Equity Bulls

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