The buyer does not belong to promoter/ promoter group companies.
Shares of Mercator added 2.3 percent in the early trade on Thursday after company sold its old vessel for Rs 28.54 crore.
The company as a part of its strategic plan has sold its old vessel M. T. Vedika Prem, built 1993, for a total consideration of Rs 28.54 crore.
The proceeds from the sell would be used to meet its debt obligations/ liabilities, company said.
The buyer does not belong to promoter/ promoter group companies.
The aforesaid transaction does not fall within the definition of related party transactions and not a material related party transaction, it added.
The share touched its 52-week high Rs 47.00 and 52-week low Rs 9.55 on 15 January, 2018 and 24 October, 2018, respectively.
Currently, it is trading 67.45 percent below its 52-week high and 60.21 percent above its 52-week low.
At 09:17 hrs Mercator was quoting at Rs 15.49, up Rs 0.36, or 2.38 percent on the BSE.
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