Mercator Limited Promoter Buys Shares in Open Market
Deepthi | Myequity news | Date : 01-10-2018 16:15:00 IST
Mercator Limited's Promoter and Executive Chairman, Mr Harish Kumar Mittal, purchased 1,000,000 equity shares from the open market at an average price of INR 17.35 per share. With this acquisition, the total promoter holding in Mercator Limited has increased to 31.17%. About Mercator Limited:
Mr. Mittal stated that the recent weakness in the stock market offered a good opportunity for them to consolidate promoter holding. This recent purchase transaction by the company's promoter re- iterates his confidence in the company's strong growth prospects and its unique positioning in the Oil and Gas Segment.
Mercator Limited is an Indian company. It was earlier known as Mercator Lines Ltd. The Mercator group of companies has diversified business interests in Coal, Oil & Gas, Commodity Transportation, and Dredging. Mercator Limited (formerly Mercator Lines Ltd.) is the parent company and is the second largest private sector shipping company in India, and it is based in Mumbai. It has recently forayed into the Offshore business with its subsidiaries Mercator Oil and Gas Ltd and Mercator Offshore Ltd.