Credit Analysis and Research Ltd. (CARE) has reaffirmed Mercator Ltd's rating of 'CARE BBB+' (CARE Triple B Plus) assigned to long term Bank Facilities and NCDs while rating for short term bank facilities remains unchanged i.e. CARE A3+ (CARE A Three Plus).
The outlook has been revised from stable to negative on account of decline in scale of operations and profitability, resulting in lower than expected cash accruals. The outlook will be revised to 'stable' when the Company will normalize its coal operations* and improve the liquidity position.
The ratings of the Company continue to derive strength from long track record of the company along with experienced promoters & management, its diversified revenue profile and moderate capital structure.
(*The Company vide its letter dated January 15, 2018 had already informed that it has successfully resumed its coal operations at its mining site in Indonesia and expects operations to reach optimum levels by March 2018)
Shares of MERCATOR LTD.-$ was last trading in BSE at Rs.39 as compared to the previous close of Rs. 37.05. The total number of shares traded during the day was 1087501 in over 2874 trades.
The stock hit an intraday high of Rs. 39.4 and intraday low of 37.2. The net turnover during the day was Rs. 42072671.