Mercator Lines rose 3.13% to Rs 46.10 at 12:55 IST on BSE, extending gains for the second consecutive day, after the stock had plunged nearly 34% in the preceding eight trading sessions.
Meanwhile, the BSE Sensex was down 285.31 points, or 1.79%, to 15,626.82.
On BSE, 10 lakh shares were traded in the counter as against an average daily volume of 14.70 lakh shares in the past one quarter.
The stock hit a high of Rs 46.75 and a low of Rs 44.70 so far during the day. The stock had hit a 52-week high of Rs 76.75 on 3 June 2009 and a 52-week low of Rs 21 on 12 March 2009.
The stock has risen 8.85% in just two trading sessions from a recent low of Rs 42.35 on 3 November 2009. Earlier, the stock had slumped 33.93% in eight trading sessions to Rs 42.35 on 3 November 2009 from a recent high of Rs 64.10 on 21 October 2009.
The mid-cap stock had underperformed the market over the past one month till 4 November 2009, declining 27.20% as compared to the Sensex's 7.13% fall. It had also underperformed the market in the past one quarter, falling 27.61% as compared to the Sensex's return of 0.51%.
The company's equity capital is Rs 23.60 crore. Face value per share is Rs 1.
Mercator Lines reported net loss of Rs 29.19 crore in Q2 September 2009 as compared to net profit of Rs 12.75 crore in Q2 September 2008. Net sales slumped 59.09% to Rs 130.48 crore in Q2 September 2009 over Q2 September 2008.
Mercator Lines provides marine transportation services. The group's areas of operations are tankers and lighterage. The company is a provider of sea borne transportation services, primarily involved in the transportation of crude oil in India and overseas.