After rising nearly rising 500 per cent over the period of 12 months, shares of Servotech Power Systems Ltd are undergoing a correction and have hit the lower circuit for the second straight day.

The following penny stocks are likely to be in focus on Thursday, February 08, 2024

The stock gave multibagger returns of 300 per cent in just 1 year and of a whopping 2,400 per cent in 3 years.

Max pain at the end of today's trade for weekly expiry on February 8 stands at 21900.

The India VIX, which measures market volatility, has decreased by 1.74 per cent, indicating a marginal fall in market volatility.

The company has a market cap of over Rs 1,00,000 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years.

The broader markets were in positive territory, with the BSE Mid-cap Index up 1.38 per cent and the BSE Small-cap Index up 0.38 per cent.

On February 06, 2024, foreign institutional investors (FII) bought shares worth Rs 92.52 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,096.26 crore.

The company's involvement in Indo-Bangladesh border fencing in Mizoram, Meghalaya, and Tripura for the Ministry of Home Affairs, coupled with the recent completion and successful handover of the Indo-Pak Border fencing spanning approximately 61 kilometers and 13 Border Outposts in Gujarat's Kutch region, underscores its prowess in executing critical border infrastructure projects.

The stock gave multibagger returns of over 150 per cent year to date (YTD), 287 per cent in 1 year and a whopping 1,090 per cent in 5 years.