Mercantile Ports & Logistics (LON:MPL) Trading Up 12.1% – Here’s Why

Mercantile Ports & Logistics Limited (LON:MPL) was up 12.1% during mid-day trading on Tuesday . The stock traded as high as GBX 1.87 and last traded at GBX 1.57. 14,862,105 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 10,874,630 shares. The stock had previously closed at GBX 1.40.

Mercantile Ports & Logistics Stock Down 9.7%

The firm has a market cap of £5.07 million, a P/E ratio of -0.17 and a beta of 0.41. The stock’s 50 day simple moving average is GBX 1.27 and its 200 day simple moving average is GBX 0.70. The company has a debt-to-equity ratio of 77.03, a quick ratio of 0.38 and a current ratio of 1.01.

Mercantile Ports & Logistics Company Profile

The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.
The terminal will be designed to handle vessels of up to 4000 DWT having a draft of up to 5 meters, with the potential to handle vessels up to 10 meter draft at a later stage.

Logistics Facility

Karanja Terminal will also house an ultra-modern logistics complex spread over approximately 100 acres of land.