Highest Volume by Penny Stock: Hits Upper Circuit, Up 45 Per Cent from 52-Week Low in Just Two Days – Big Development Underway?
The stock up by 45 per cent from its 52-week low in just two trading sessions
Indian equity benchmark indices extended their uptrend on Wednesday, with Nifty50 and Sensex trading higher by 0.80 per cent and 0.75 per cent, respectively. The Sensex has reclaimed the 82,000 level, and the India VIX has seen a significant drop of over 6 per cent.
One stock making waves on the bourses is the penny stock, SecureKloud Technologies Limited. SecureKloud Technologies Limited (formerly 8K Miles Software Services Limited) was promoted by Mr. Venkatachari Suresh, Mr. R. S. Ramani, and Mr. M. V. Bhaskar in 2008. The company provides software services, including strategic advisory, implementation, and development services, managed services and support (post-implementation support and cloud hosting), and platform services (solutions delivery model). SecureKloud has technological partnerships with Amazon Web Services, Microsoft Azure, IBM, Google Cloud Platform, and CA Technologies and is one of the preferred managed service partners for Amazon Web Services.
Shares of SecureKloud are locked at the upper circuit limit of 20 per cent, with the stock up by 45 per cent from its 52-week low in just two trading sessions. Interestingly, on Wednesday, the stock witnessed its highest single-day volume since December 2022, recording a total traded volume of over 6 lakh shares on the NSE.
With this strong uptrend from the 52-week low, the stock has touched a three-month high on Wednesday. Keep an eye on this penny stock, as such strong moves, backed by robust volume, often suggest that significant developments may be underway.
Disclaimer: The article is for informational purposes only and not investment advice.