Mercator has target of Rs 165-185: G Shah

Gaurang Shah of Geojit Financial Services is of the view that Mercator Lines has target of Rs 165-185. 

Shah told CNBC-TV18, "Mercator Lines has come out with fantastic set of numbers and they have also acquired a couple of vessels, which they have deployed on fixed charter rate avoiding the rupee-dollar equation volatility and also the fact that they are gone into mining. I think Indonesia could start any time, Mozambique could take at least the couple of more months but yes given the kind of outlook and prospect I think amongst the shipping sector, Mercator Lines and Shipping Corporation looks quite attractive. If the investor has bought it at Rs 98 and has got something like eight months to a one-year kind of timeframe, one can easily look at the target of Rs 165 to Rs 185."

Disclosure: Analyst has recommended his clients to buy into Mercator Lines.