Mercator Lines to acquire double Hull VLCC

Mercator Lines Ltd has announced that the Company has signed a Memorandum of Agreement to purchase 1 double Hull VLCC. Vessel expected to join the fleet in June '08.The stock closed the day at Rs.121.90, down by Rs.1.55 or 1.26%. The stock hit an intraday high of Rs.126.50 and low of Rs.120.20.The total traded quantity was 4529176 compared to 2 week average of 3644624.