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'Mercator Lines LTD, gained 4.08% to 104.5 rupees as it declared a 175% jump in net profit this financial year.'Extracted from Thomas Financial News 15/05/08 3:32AM ET
104.5 INR = 3.375SGD
I have been told that IPO prices are usually at a discount of 20-30% of actual value. Given that the 3bn news of the 3b coal reserves is 'hot off the press' it is possible that this has not been priced in by analyst houses. If all these hold true and if US economy has bottomed out then px of 90 cents and above should be conceivable in the future.
Intend to hold for longer term. 
amitkatyal ( Date: 15-May-2008 21:53) Posted:
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Mercator jumped on talks that a foreign fund had taken a sizeable stake in the company. Other dealers thoght that Mercator was a laggard and benefitting from the strong dry bulk rates now.
The interesting thing about this counter is that it IPOed at a bad time (subprime). Leaving one to guess what the price would have been if timing was better.
BDI is close to or at its peak just out of the seasonally low quarter.
New ship orders growing at a less than anticipated rate due to order cancellations at shipyards as a result of tightening credit. Which implies that BDI should have more upside.
Some might say that the key risk is that company is a relatively new player with aggressive expansion plans, but it is profitable.
Oil is at its highs which should increase demand of substitutes in sectors which can use alternative energy sources like coal, which should again mean higher demand on shipping. On the other hand, oil costs are normally transferred to customers in this sector.
US not out of problems yet but an increasing number of people have suggested that the worst is over in particular Greenspan who notably was one of the first that warned against the subprime bubble.
There might now be only a small downside from china after the Olympics as the stocks there have already dipped significantly.
STX PO is also trading near it's highs.
All in all, things sound promising. Might be good to let the counter run for a while particular since volume has increased tremendously.
Anyone got any analyst reports available?
Bro, there are so many times I wanted to average down with 100 lots starting from 0.28. Then yesterday at 0.500, I asked my friend can buy 100 lots to average down to 0.52+ or not, but both of us agreed that don't play play.
Then.........Today 0.560................
This kind of thing happens to everyone, if only, should have, early if...............etc
cathylmg ( Date: 14-May-2008 23:15) Posted:
| I was there staring at the numbers keep going up and up. Very heart throbbing. Courted 30 lots at 0.465 but hand jittered. Sold at 0.47. Went up to 0.50 then heart pain ah. But anyway tomorrow coffee money liao. |
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Wah lau eh, adrelina rush man. I have a feeling it may already hit its peak at 0.560 this time round. Sigh... gotta hold till the cow comes home liao.
jackjames ( Date: 15-May-2008 12:30) Posted:
brother going to break your buy at 0.585 soon ~~
Naproxen ( Date: 14-May-2008 23:32) Posted:
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Confirmed not 0.94. My friend still holding the IPO shares.
I applied, never kena, bought at 0.7, profited few days later, then bought again at 0.585, stucked till now. Waiting for chances to sell now. |
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Trading volume at it's highest since IPO. BDI also heading up. Seems like this stock is going up..up..up!
Any chance of 60-70 cents in sight?
Huat ah!
Jason,
I recommend you Novo Group.
Rgds
MERCATOR REPORTS CLOSE TO 3-FOLD JUMP IN NET PROFIT TO RS. 370 CRORE,
SUPPORTED BY GROWING FLEET, BUOYANT SHIPPING DEMAND AND FIRM FREIGHT
RATES IN DRY CARRIERS SEGMENT.
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Shipping Revenue increases 30% to Rs. 1455 cr.
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Net profit up by 175%
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Vessel Operating Days rose by 20% to 9680 in FY 2008
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Proposes dividend of Rs 1.10 per share
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_262645D7BFFDD4D54825744A00232497/$file/Mercator_PressRelease_Accs2008.pdf?openelement
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Live Quotes from SGX |
Rmk |
Last |
Change |
% |
Vol |
B Vol |
Buy |
Sell |
S Vol |
High |
Low |
Sector |
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 Mercator |
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0.555 |
+0.055 |
+11.0 |
30,397 |
1 |
0.700 |
0.555 |
126 |
0.560 |
0.500 |
TSC |
Mercator bidding at 0.70. Hope to see this price soon :)
brother going to break your buy at 0.585 soon ~~
Naproxen ( Date: 14-May-2008 23:32) Posted:
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Confirmed not 0.94. My friend still holding the IPO shares.
I applied, never kena, bought at 0.7, profited few days later, then bought again at 0.585, stucked till now. Waiting for chances to sell now.
simo7474 ( Date: 14-May-2008 23:30) Posted:
If I am not mistaken IPO px was 0.94. But IPO at wrong time (period when subprime woes was at peak). Fell to 0.6 the very next day. Pls see link below.http://extraordinaryprofits.blogspot.com/2007/12/mercator-lines-ipo.html |
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Wow,... really run up like nobody business even there are alot of selling pressure today..... Cool man.... those vested are with alot of profit...
For me... now is no longer a profitable counter as those juices are being sucked away by well foresighted Bros here....
Happy for you guys... hope there is another counter that i can spot on like this.... cheers all the way to .76 IPO price or higher ok? Huat ar 
ykjuay ( Date: 15-May-2008 09:44) Posted:
| fantastic economy driver , tgt back to IPO price ...let's hope |
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fantastic economy driver , tgt back to IPO price ...let's hope
Nostradamus,
Net profit rose 303% in FY 08 of which about 200% attributed to exceptional gains. Not sure what form exceptional gains took though but usually it's off the sale of something.
Investors could be buying because of its four-fold increase in FY07 net profit. Mercator still looks bullish with the price increase on big volume. Immediate resistance is around $0.535. It may cover the gap around $0.575.
Naproxen,
Thanks. Confirm your source definitely better than mine. Gd luck!
BDI +416 now at 11067.