Penny Stock Mercantile Ventures Soars Nearly 20% as Indian Market Stages Sharp Recovery
Amid market volatility sparked by US tariff concerns, the real estate company's shares surged ahead of its upcoming board meeting to announce quarterly results.
Mumbai: The Indian stock market experienced a highly volatile trading session on Thursday, initially tumbling on news of tariffs imposed by the US, but staging a remarkable recovery in the final two hours of trading. Amidst this turbulence, one penny stock, Mercantile Ventures Ltd., defied the bearish sentiment and skyrocketed, rewarding its investors.
While the benchmark indices, Sensex and Nifty, recouped their early losses to close on a positive note, Mercantile Ventures Ltd. was a standout performer in the broader market.
A Closer Look at the Stock’s Performance
Shares of Mercantile Ventures Ltd. saw a significant rally on Thursday. The stock, which had a previous closing price of ₹26.60, jumped nearly 20% to hit a high of ₹31.92 during the day.
This surge brings the stock closer to its 52-week high of ₹36.78, which was recorded on July 24 of this year. The stock’s 52-week low stands at ₹19.00, recorded in April.
Key Board Meeting on the Horizon
In a recent filing with the Bombay Stock Exchange (BSE), Mercantile Ventures Ltd. announced that a meeting of its Board of Directors is scheduled for August 4. The primary agenda of the meeting will be to consider and approve the company’s financial results for the quarter that ended on June 30.
Shareholding Pattern
The company’s shareholding structure shows a strong promoter holding. According to the latest data:
Promoters hold a 72.75% stake in the company.
Public Shareholding accounts for the remaining 27.25%.
Among the key promoters, Trinity Auto Points Limited holds an 18.72% stake, while South India Travels Private Limited has a 16.63% share.
About Mercantile Ventures Ltd.
Mercantile Ventures Ltd. is engaged in the business of acquiring real estate and immovable properties for the purpose of leasing or resale. The company was formerly known as MCC Finance Limited. On March 27, 2013, it shifted its focus away from non-banking financial activities and adopted its current name and business model.
