Mercator up 4% as co plans exit from Indonesian coal mines



In the trading hours of Wednesday, Mercator shares saw an upward swing, gaining around 4%. The upswing was a result of Mercator planning to exit from one of its coal mines in Indonesia.

Reports stated that the company is looking forward for an exit from the coal mine to reduce the debt. Currently, the company holds stake in two mines in Petangis and Batuah in Indonesia through its arm Oorja Holdings Pte. The stake of the company in both the mines is approximately equal to $150 Mn.

Around 12:10 PM, the shares rose up to 3.8%, trading at Rs 47.45.


Mercator Ltd is currently trading at Rs 46.7, up by Rs 1.15 or 2.52% from its previous closing of Rs 45.55 on the BSE.
The scrip opened at Rs 46 and has touched a high and low of Rs 47.8 and Rs 46 respectively. The stock is currently trading above its 200 DMA.




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