1. We are bullish on Mercator Lines as the company is being managed professionally and by virtue of its strategy to not to overbid for any contract and not to accumulate any unproductive assets.The stock is presently trading at a PE of 7.6X its FY'09 earnings of Rs 15.2 and PE of 4.9X its FY'10 earnings of Rs 23.4.
2. It has a fleet of 12 dry carriers, 13 tankers and four dredgers and has been servicing thermal-based power plants, steel companies and refineries.
3. Mercator Lines is an established player in the marine transportation and has craved a niche for itself in the area of coastal trade by opening new avenues of transportation of molasses from Surat and minor ports in Ratnagiri. It has credit worthy clients and these clients are engaged in long term relationship.
4. Even financial house ULJK Securities has initiated ‘accumulate’ rating on Mercator Lines with a price target of Rs 152.
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2. It has a fleet of 12 dry carriers, 13 tankers and four dredgers and has been servicing thermal-based power plants, steel companies and refineries.
3. Mercator Lines is an established player in the marine transportation and has craved a niche for itself in the area of coastal trade by opening new avenues of transportation of molasses from Surat and minor ports in Ratnagiri. It has credit worthy clients and these clients are engaged in long term relationship.
4. Even financial house ULJK Securities has initiated ‘accumulate’ rating on Mercator Lines with a price target of Rs 152.
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