Mercantile Ports & Logistics (LON:MPL) Shares Up 18.6% – Here’s Why

Shares of Mercantile Ports & Logistics Limited (LON:MPL) shot up 18.6% during mid-day trading on Monday . The company traded as high as GBX 2.35 and last traded at GBX 1.60. 70,078,250 shares changed hands during trading, an increase of 563% from the average session volume of 10,568,665 shares. The stock had previously closed at GBX 1.35.

Mercantile Ports & Logistics Stock Performance

The stock’s 50-day moving average is GBX 1.07 and its 200-day moving average is GBX 0.65. The firm has a market capitalization of £5.70 million, a price-to-earnings ratio of -0.19 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.38 and a debt-to-equity ratio of 77.03.

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.