Worldwide Technologies Ltd is also jumping on the software bandwagon. The Chennai-based modem manufacturer is planning to move from low margin hardware business to high growth software business. With Geneva-based Network Oriented Data Systems(NODS) picking up 14 per cent stake in the company, the market perception of the company has also changed. The scrip which was languishing at Rs 13 is currently changes hand at Rs 29.6. On Tuesday, there were only buyers at the counter.

According to marketmen, it is only the begining and the scrip can cross three figure mark in a year's time. WTL currently sells modems under the Swiftlink brand. NODS will be further hiking stake in the company to 60 per cent through equity and warrants issue.

Market re-rates

Mirza Tanners

Mirza Tanners is the latest addition to the list of re-rated stocks. The company is the largest exporter of shoes in the country. MTL is exporting shoes to various European andScandivian countries and selling the shoes under brands of `Red Tape' and `Oakridge'. The scrip in less than a month has moved from Rs 77 to touch a high of Rs 142.

On Monday, the scrip hit the upper band of filter at Rs 131.9 with only buyers at the counter. According to marketmen, on Tuesday, the scrip could not sustain its two year high level at Rs 142 as it was the last day of settlement on the National Stock Exchange. It closed much lower at Rs 135.

MTL's products compete directly with world renowned brands in quality conscious European market. It has presence in 17 European countries.

For the current fiscal, the company's export is likely to cross the Rs 100-crore mark. The company has recently commenced production at its Rs 18-crore new one million shoe manufacturing facility set up at Noida. The company's other division to manufacture leather shoes with world class polyurethane (pu) soles at the same site is likely to go on stream by the end of the first quarter of next fiscal. According tomarketmen, the scrip is likely to touch Rs 200 by the April end.

Vorin Labs spurts 116 %

Vorin Laboratories' acquisition bid in Fine Drugs and Chemicals has seen the stock doubling in the past 17 trading sessions. A profit making company, Vorin Laboratories is making an open offer to pick up 12.57 per cent in Fine Drugs and Chemicals at a price of Rs 4. The open offer is followed by VLL's bid to pick up 37.76 per cent (23.73 lakh shares) from Prabhakar Reddy and associates.

The VLL scrip has shot up from Rs 21.7 on February 26 to Rs 46.9 on March 23, a gain of 116 per cent. The acquisition bid by VLL has also increased the trading volume at its counter. From a few 100 shares, the volume has shot up to 12,300 on March 4. On March 10, 23,600 shares changed hands at a price of Rs 31.

The renewed activity at the VLL counter is understandable as the acquisition of Fine Drugs will help the company increase its bulk drugs manufacturing capacity.

However, the open offer to the shareholders of FineDrugs and Chemicals at Rs 4 is way below the current market price. While Vorin Laboratories is making an offer to buy equity shares at Rs 4, Fine Drug stock is currently hovering around Rs 8.7.