Mercantile Ports & Logistics (LON:MPL) Trading Up 37.2% – Here’s Why

Mercantile Ports & Logistics Limited (LON:MPL)’s stock price was up 37.2% on Thursday . The company traded as high as GBX 1.45 ($0.02) and last traded at GBX 1.33 ($0.02). Approximately 12,623,259 shares were traded during trading, an increase of 1,400% from the average daily volume of 841,804 shares. The stock had previously closed at GBX 0.97 ($0.01).

Mercantile Ports & Logistics Stock Performance

The stock has a market cap of £4.81 million, a price-to-earnings ratio of -12.75 and a beta of 0.41. The company’s 50-day simple moving average is GBX 1.11 and its 200-day simple moving average is GBX 1.33. The company has a quick ratio of 0.38, a current ratio of 1.01 and a debt-to-equity ratio of 77.03.

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.