Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Friday, May 10, 2024.

On Thursday, the trading session ended on a bearish note with significant declines in benchmark indices. Sensex dropped by 1.45 per cent to close at 72,404.17 level, and Nifty plunged by 1.55 per cent to 21,957.50 level.

The broader market also witnessed substantial losses, with Nifty Mid-Cap declining by 1.85 per cent and Nifty Small-Cap plummeting by 2.83 per cent.

Market volatility, depicted by India VIX, surged by 6.92 per cent, indicating increased market volatility.

Nifty Auto was the only sector that closed positively, while Nifty Energy, Nifty Metal, and Nifty FMCG were the Top Losers.

With 843 stocks advancing and 2,998 stocks declining, the broader market sentiment remained negative.

The following Penny Stocks are likely to be in focus on Friday, May 10, 2024:

Hindustan Motors - 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 44.80 per share on NSE. Established in 1948, Hindustan Motors Ltd specializes in the manufacturing and distribution of vehicles, spare parts, steel products, and components. Additionally, the company engages in trading spare parts of vehicles.

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 11.40 per share on NSE. RattanIndia Power Limited stands as one of India’s prominent private power generation companies, boasting an installed capacity of 2,700 MW spread across thermal power plants in Amravati and Nashik, with 1,350 MW capacity at each location in Maharashtra, India.

Baid Finserv - 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 23.15 per share on NSE. Baid Finserv Limited, previously known as Baid Leasing and Finance Company Limited, operates as a Non-Deposit Taking NBFC. Its primary business activities include offering car loans, commercial vehicle loans (both new and used), MSME loans, loans against property, and other asset-backed loans. With a strong presence in Rajasthan, the company has expanded its operations to Madhya Pradesh as well.

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.