Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Monday, May 27, 2024.

On Friday, both benchmark indices concluded the trading day on a negative note. The Sensex marginally declined by 0.01 per cent, closing at the level of 75,410.39, while the Nifty experienced a slight plunge of 0.05 per cent, ending at 22,957.10.

In line with this trend, the broader market also showed negative performance, with the Nifty Mid-Cap closing slightly higher by 0.01 per cent, while the Nifty Small-Cap plunged by 0.17 per cent.

Market volatility, as indicated by India VIX, saw a slight decline of 1.92 per cent, reflecting heightened market volatility.

Among the sectors, Nifty Media, Nifty Financial Services, and Nifty Bank closed positively, while Nifty FMCG, Nifty Realty, and Nifty IT were the major sectors that underperformed.

The market sentiment was predominantly negative, with about 1,598 stocks advancing compared to 2,254 stocks declining, indicating a prevailing negative sentiment in the broader market.

The following Penny Stocks are likely to be in focus on Monday, May 27, 2024:

Jaiprakash Power Venture - 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 20.75 per share on NSE. Incorporated in 1994, Jaiprakash Power Venture Limited operates in coal mining, sand mining, cement grinding, and production of thermal and hydroelectric electricity.

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 15.10 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. 

Hindustan Motors - 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 37.20 per share on NSE. Incorporated in 1948, Hindustan Motors Ltd manufactures and sells vehicles, spare parts of vehicles, steel products and components. It also does trading of spare parts of vehicles.

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.