Mercator has emerged as lowest bidder for Maintenance Dredging of 7mn CUM for three years at Paradip Port.

Shares of Mercator climbed 3% in intraday trade, that it has emerged as lowest bidder for maintenance dredging of 7mn CUM quantity for 3 years at Paradip Port. The contract value is Rs167.61cr expected to be completed over a period of 36 months.

Mercator Limited has shipping, dredging, coal mining, infrastructure, and oil exploration businesses. Mercator Ltd is currently trading at Rs13.13 up by Rs0.09 or 0.69% from its previous closing of Rs13.04 on BSE. The scrip opened at Rs13.01 and has touched a high and low of Rs13.60 and Rs12.52 respectively.