Penny Stocks: Stocks likely to be in focus tomorrow!
The following penny stocks are likely to be in focus on Friday, May 24, 2024.
On Thursday, benchmark indices closed the trading day on a positive note. The Sensex saw a substantial gain of 1.61 per cent, closing at 75,418.04, while the Nifty rose by 1.33 per cent, closing at 22,898.70.
The broader market also performed well, with the Nifty Mid-Cap closing up by 0.43 per cent and the Nifty Small-Cap increasing by 0.18 per cent.
Market volatility, indicated by the India VIX, slightly declined by 0.41 per cent, reflecting heightened market volatility.
Sector-wise, Nifty Auto, Nifty Bank, and Nifty Financial Services closed positively, while Nifty Pharma was the only major sector that underperformed.
In the broader market, 1,762 stocks advanced while 2,071 stocks declined, indicating a negative sentiment overall.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The following Penny Stocks are likely to be in focus on Friday, May 24, 2024:
Suzlon - 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 48.30 per share on NSE. Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles.
RattanIndia Power - 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 14.40 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.
Essar Shipping - A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 10 per cent upper circuit to record an intraday high of Rs 30.50 per share on NSE. Incorporated in 2010, Essar Shipping Ltd is in the business of fleet operating and chartering activities and operates in international and coastal voyages.
Here is the list of volume breakout penny stocks that witnessed heavy buying in today’s session (in NSE):
|
Penny Stock
|
LTP (Rs)
|
Gain (per cent)
|
|
Hybrid Financial Services
|
12.10
|
4.76
|
|
Transwarranty Finance
|
20.15
|
1.77
|
|
Radaan Mediaworks
India
|
2.50
|
4.17
|
|
McNally Bharat
Engineering Company
|
5.25
|
5.00
|
Disclaimer: The article is for informational purposes only and not investment advice.