Mercantile Ports & Logistics (LON:MPL) Trading Up 35% – Here’s What Happened

Mercantile Ports & Logistics Limited (LON:MPL) traded up 35% on Wednesday . The stock traded as high as GBX 1.74 and last traded at GBX 1.62. 11,021,974 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 9,407,272 shares. The stock had previously closed at GBX 1.20.

Mercantile Ports & Logistics Stock Performance

The firm has a market cap of £7.16 million, a P/E ratio of -0.24 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. The company’s 50-day moving average is GBX 0.87 and its two-hundred day moving average is GBX 0.60.

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.