Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Tuesday, July 16, 2024.

On Monday, benchmark indices concluded the first trading day of the week on a positive note. The Sensex surged by 0.18 per cent, closing at 80,664.86, while the Nifty soared by 0.35 per cent, reaching a record high of 24,635.05.

The broader market also experienced gains: the Nifty Mid-Cap closed higher by 0.86 per cent, achieving a record high of 57,687.65, and the Nifty Small-Cap surged by 0.52 per cent.

Market volatility, as indicated by India VIX, increased by 3.37 per cent, reflecting heightened market volatility.

Within the sectoral landscape, Nifty PSU Bank, Nifty Media, and Nifty Realty were among the Top Gainers, while Nifty IT was the only major sector that underperformed.

Overall, 1,259 stocks advanced compared to 1,058 that declined, indicating a positive sentiment in the broader market.

The following Penny Stocks are likely to be in focus on Tuesday, July 16, 2024:

Mukka Proteins - Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 20 per cent upper circuit, recording an intraday high of Rs 47.40 per share on NSE. Incorporated in 2003, It is an animal protein company, primarily engaged in the production of Fish Meal, Fish Oil and Fish Soluble Paste as well as developing alternative proteins such as Black Soldier Fly (BSF) Insect meal in the animal food segment.

Reliance 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 28.68 per share on NSE. Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally. The Company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development. 

Syncom Formulations - 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 16.01 per share on NSE. Established in the year 1995, Syncom Formulations is a global pharmaceutical company that manufactures and markets a broad range of healthcare products. The company is a generic pharmaceutical player operating in more than 15 countries worldwide having more than 400 products registered.

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.