Mercantile Ports & Logistics (LON:MPL) Trading Up 97.6% – Here’s Why

Mercantile Ports & Logistics Limited (LON:MPL)’s stock price was up 97.6% during trading on Wednesday . The stock traded as high as GBX 0.84 and last traded at GBX 0.84. Approximately 22,653,545 shares changed hands during trading, an increase of 303% from the average daily volume of 5,625,422 shares. The stock had previously closed at GBX 0.43.

Mercantile Ports & Logistics Trading Up 7.7%

The firm’s 50-day moving average is GBX 0.68 and its 200 day moving average is GBX 0.55. 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 firm has a market capitalization of £7.48 million, a price-to-earnings ratio of -0.25 and a beta of 0.41.

About Mercantile Ports & Logistics

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.