Stock watch: Tanfac Industries

The Aditya Birla group-promoted Tanfac Industries has been attracting strong buying interest, of late. Market sources suggest the stock is been bought by some informed investors who are aware of some positive development in the company.

In Thursday's subdued market, the stock was up 4.6 per cent to close at Rs 73.90, after hitting a new 52-week high of Rs 75 in intra day on Thursday. The counter witnessed impressive volumes of more than 1.97 lakh shares on the BSE alone.

Tanfac is one of largest supplier of Fluorine chemicals in the country and the buzz in the market is that the company is expected to receive carbon credit which will significantly improve the bottomline of the company.

Fundamentally, the company is expected to do well in the coming quarter as the fluorine-alkaline industry is on an upside, said an industry analyst. The stock has appreciated by 81 per cent in the last one month.

Tanfac, is a joint sector company promoted by the Aditya Birla Group, Pilani Industries & Investment Corporation and Tamil Nadu Industrial Development Corporation.