Meanwhile, the S&P BSE Sensex was unchanged at 33,052.96. The S&P BSE Small-Cap index was down 20.21 points or 0.11% at 17,961.64, underperforming the Sensex.

High volumes were witnessed on the counter. On the BSE, 19.06 lakh shares were traded on the counter so far as against average daily volumes of 7.32 lakh shares in the past two weeks. The stock had hit a high of Rs 36.55 and a low of Rs 35.15 so far during the day. The stock had hit a 52-week high of Rs 55.20 on 24 April 2017 and a 52-week low of Rs 35.50 on 26 September 2017.

The stock had underperformed the market over the past one month till 13 December 2017, falling 12.25% compared with 0.06% gains in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 13.32% as against Sensex's 2.69% rise. The scrip had also underperformed the market in past one year, declining 10.39% as against Sensex's 23.8% rise.

The small-cap company has equity capital of Rs 30.25 crore. Face value per share is Re 1.

Mercator's revenue fell 24.36% to Rs 100.90 crore in Q2 September 2017 over Q2 September 2016.

Mercator said that significant improvement in dredging business was witnessed on account of new order wins and various cost optimization measures undertaken. Profitability at shipping was impacted due to non deployment of assets being put for sale and seasonal impact of lower charter rates.

Due to non availability of financial information from stepdown subsidiaries the consolidated results have not been published, company added. The company has initiated steps to obtain financial information and shall report the same at earliest convenience.

Mercator group has business interests in coal, oil & gas, shipping and dredging.