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Prices & Quotes - UK Markets - Mercantile Investment Trust (The) (MRC)

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Share Price:
Up 269.00p
Change Today:
4.00p
Market Cap:
2,129.20m
Sector:
Equity Investment Instruments

Mercantile completes 'key milestone' at Mumbai port project

By Josh White

Date: Friday 03 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Mercantile Ports & Logistics announced on Friday that it has reached a "key milestone" as it develops its modern port and logistics facility in Mumbai, having driven the last of the 248 piles required for the 400 meters of jetty.
The AIM-traded firm said that will enable 800 meters of quay length to be operated once deck slabs for the entire length are laid.

It also reported that 160 meters of jetty deck slabs had now been fabricated and laid.

After a stuttering end to the monsoon season, it said the site was now dry and reclamation work was expected to recommence shortly after the removal of revetment, which was currently in progress.

In the meantime, Mercantile said it was "pleased" with the achievement of the "important piling milestone", adding that it was now working alongside its main contractor to enable the facility to commence operations by the end of the year.

"MPL is focused on reaching the operational phase of its port facility in Mumbai so that we are in a position to capitalise upon the demand to use the port that we know is there," said executive chairman Nikhil Gandhi.

"We believe that the completed facility will be well aligned with the Government of India's initiative to promote coastal and inland waterways movement of cargo.

"It echoes the recent statement from the Prime Minister, Narendra Modi, who said that his government has been given a new mantra 'P for P', referring to 'Ports for Prosperity'."

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MRC Market Data

Currency UK Pounds
Price 269.00p
Change Today 4.00p
52 Week High 280.50p
52 Week Low 169.00p
Volume 832,127
Shares Issued 791.52m
Market Cap 2,129.20m

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MRC Dividends

  Latest Previous
  Q1 Q4
Ex-Div 24-Jun-21 25-Mar-21
Paid 02-Aug-21 30-Apr-21
Amount 1.35p 2.65p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 149,489 @ 269.00p
16:23 4,000 @ 269.00p
16:20 648 @ 268.50p
16:20 873 @ 268.50p
16:20 391 @ 268.50p

MRC Key Personnel

Chair Angus Gordon Lennox