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

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

Mercantile Ports & Logistics Stock Performance

The company has a debt-to-equity ratio of 77.03, a quick ratio of 0.38 and a current ratio of 1.01. The company has a 50 day moving average price of GBX 0.87 and a 200 day moving average price of GBX 0.60. The company has a market capitalization of £7.16 million, a price-to-earnings ratio of -0.24 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.