Mercator has informed the exchanges that it has incorporated a wholly-owned subsidiary Mercator Oceantransport Ltd in India. The move is aimed at taking forward the business restructuring plans of the company to focus on the shipping business and allied activities through a subsidiary. The main objective of the subsidiary is to carry on the business of establishing, maintaining and operating all kinds and types of shipping, ship management and ship transport business, and to provide related services across the globe, including in India. Shares of Mercator closed at ₹43.85, up 2.3 per cent, on the NSE.
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