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Dalal Street has begun revaluing the Nocil stock after the Bombay High Court gave its seal of approval to the demerger plan on June 8 for its petrochemicals and plastic product divisions.

The rubber chemicals business of the company will be free of liabilities and the company could be run as a going concern with a positive net worth.

According to market sources, the profitable rubber chemicals business, now on its own, can fuel growth in the near future, hence can fetch better valuation.

Sizeable real estate in New Mumbai and potential accumulation of carbon credit are also understood to be fetching additional attraction for the stock.

The stock created its new 52-week high on June 9 at Rs 28.50 and has been attracting huge traded volumes.

On Wednesday, the counter finished at Rs 26.50, up around 1 per cent with a traded quantity of over 8 lakh against the last two-week average of over 22 lakh.

Very high non-promoter holding (over 72 per cent) and public holding of around 46.93 per cent helped the liquidity surge in the counter in the past one week.

IFB Agro high on acquisition moves

The IFB Agro stock is on a high on unconfirmed moves by the promoters to ward off predatory steps by potential buyers for its distillery business.

The stock on Wednesday moved up 4.49 per cent to close at Rs 60.50. The counter saw its 52-week high on June 13 at Rs 66.30.

This relatively quiet counter has been subject of discrete acquisition in the last few sessions. In the last couple of weeks it has been logging an average quantity of around 50,000 on the BSE.

The non-promoter holding in the company's paid up capital is around 47 per cent. The profit-making, but under-researched stock of the Kolkata-based company, some analysts pointed out, has reported a consolidated earning per share of Rs 13 in 2004-05.

Not many have understood the valuation of the liquor business, particularly the distillery one, as it is under a subsidiary of the company, feels a dealer.

Firm on product prices

The Tinplate stock is in the buzz owing to a firm trend in its product prices.

According to market sources, the Tata group company is also said to be looking for an inorganic growth route.

The stock on Wednesday created its new year-high at Rs 64. Though it finished lower at Rs 61.25 on the BSE, it recorded a traded quantity of over 9 lakh shares against the two-week average of over 5 lakh shares.

According to analysts, the company's fundamentals have been improving in the last few quarters.

A steady accumulation of the stock by a section of market players has been witnessed in the last one month or so, market sourced said.

Jayanta Mallick

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