Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Tuesday, May 07, 2024.

On Monday, the benchmark indices ended the trading day with mixed results. The Sensex recorded a marginal gain of 0.02 per cent, closing at 73,895.54, while the Nifty saw a slight decline of 0.15 per cent, closing at 22,442.70.

However, the broader market witnessed significant losses, with Nifty Midcap falling by 0.54 per cent and Nifty Small-Cap plunging by 1.5 per cent.

Market volatility, measured by India VIX, surged by 13.24%, indicating a notable increase in market uncertainty.

Nifty Realty, Nifty IT, Nifty FMCG, and Nifty Pharma closed in positive territory, while Nifty PSU Bank, Nifty Media, Nifty Energy, and Nifty Metal were among the Top Losers.

The market breadth was negative, with 1,207 stocks advancing compared to 2,726 stocks declining, signaling a prevailing negative sentiment in the broader market.

The following Penny Stocks are likely to be in focus on Tuesday, May 07, 2024:

RattanIndia Power - Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 5 per cent upper circuit, recording an intraday high of Rs 9.95 per share on NSE. RattanIndia Power Limited is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India.

Hindustan Motors - The scrip experienced significant buying activity, resulting in the stock surging and getting locked at 5 per cent upper circuit, reaching an intraday high of Rs 42.00 per share on NSE. Established in 1948, Hindustan Motors Ltd is engagd in the manufacturing and sale of vehicles, spare parts for vehicles, steel products, and components. Additionally, the company is involved in trading spare parts for vehicles.

Williamson Magor & Co. - A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 20 per cent upper circuit to record an intraday high of Rs 44.55 per share on NSE. Established in 1949, Established in 1949, Williamson Magor & Co. Ltd is primarily involved in investment activities and lending funds. Ltd is primarily involved in investment activities and lending funds.

Here is the list of volume breakout penny stocks that witnessed heavy buying in today’s session (in NSE):  

Disclaimer: The article is for informational purposes only and not investment advice.