Mercator Receives Contract Worth Rs 15 crore for Maintenance at Karaikal Port

Mercator is a diversified company in coal, oil & gas, commodity transportation, and dredging. It announced on Wednesday that it has received a contract for maintenance at Karaikal Port.
 
The work will be completed during the first half of FY 2018 and the value of the contract is approximately Rs 15 crore.

The share price of the company witnessed a sharp rise on the NSE, soon after the announcement and hit a high of Rs 41.50 per share at 1110 hours.
 
The stock has delivered 29% returns in a period of one year and has underperformed the BSE Small Cap and Nifty Service Sector indices over the same time period.