Penny Stocks: Stocks likely to be in focus tomorrow!

Vaishnavi Chauhan / 27-May, 2024

The following penny stocks are likely to be in focus on Tuesday, May 28, 2024.

On Monday, benchmark indices ended the trading day on a negative note. The Sensex saw a marginal decline of 0.03 per cent, closing at the level of 75,390.50, while the Nifty dropped by 0.11 per cent, closing at 22,932.45.

However, the broader market showed some resilience, with the Nifty Mid-Cap closing slightly higher by 0.64 per cent, while the Nifty Small-Cap experienced a decline of 0.81 per cent.

Market volatility, measured by India VIX, surged by 6.98 per cent, indicating increased market volatility.

Among sectoral indices, Nifty PSU Bank, Nifty Realty, and Nifty Bank closed positively, while Nifty Media, Nifty Energy, and Nifty Metal were the major sectors that underperformed.

The broader market sentiment appeared negative, with about 1,650 stocks advancing compared to 2,323 stocks declining.

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

The following Penny Stocks are likely to be in focus on Tuesday, May 28, 2024:

Ashima - 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 28.65 per share on NSE. Ashima Limited is engaged in the manufacture of 100% cotton Yarn Dyed Shirting fabrics, Denim fabrics and readymade garments as well as processing of textile fabrics

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 15.85 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.

Brightcom Group - A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 5 per cent upper circuit to record an intraday high of Rs 10.00 per share on NSE. Incorporated in 2010, Brightcom Group Ltd (formerly Lycos Internet Ltd) offers digital marketing solutions to businesses, agencies and online publishers worldwide

Here is the list of volume breakout penny stocks that witnessed heavy buying in today’s session (in NSE):

Penny Stock	LTP (Rs)	Gain (per cent)
Hybrid Financial Services	13.30	4.72
Goenka Diamonds and Jewels	0.90	5.88
TCI Finance	7.25	4.32
Gayatri Projects	2.55	4.08