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The stock of Nocil witnessed a sudden pick up in volumes on Thursday. The counter recorded a volume of 18.9 lakh shares against Monday's figure of 8.64 lakh shares. Its two-week average also stands at a healthy 18.35-lakh shares.

However, after gaining sharply by 11 per cent on Monday, the stock tumbled 5.2 per cent to end at Rs 29.15 (Rs 30.75) on Thursday. The stock gained 12.33 per cent week-on-week and 15.67 per cent over the last one-month period.

Market speculation has it that Nocil's real estate in Navi Mumbai may change hands with a big industry player allegedly evincing interest in that property. However, a few market observers warn that the talk of property sale by Nocil keeps coming up intermittently and advised investors to remain cautious.

K.S. Badri Narayanan

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