Penny Stock Update: 3i Infotech locks in upper circuit, JCT trade above Rs 3 per share

The frontline indices are seen trading with losses while the broader market indices are seen outperforming in the early hours of the trade on Friday. BSE SmallCap Index is trading flat with negative bias while BSE Sensex is down by 0.40 per cent or 233 points. 

3i Infotech slipped by nearly 36 per cent from its 52-W high made in June this year, only to show steady recovery since August 24. The share price of 3i Infotech jumped higher by more than 20 per cent in the past four trading sessions. The stock is continuously hitting the upper circuit in the past four trading sessions. 3i Infotech will be delisted by the month end and is expected to relist after 3 to 6 months. 

JCT is yet another beaten down penny stock that is attempting to stage a comeback with lots of buyers seen accumulating the stock. JCT announced a negative set of results and the share price have fallen by almost 40 per cent from its 52-week highs if we consider the data till August 23. Since then, the stock has gained by more than 17 per cent. 

BSE SmallCap index has underperformed BSE Sensex in the past one month with several small cap stocks heavily underperforming the large cap peers. This week however we are witnessing buying interest in the broader markets, indicating that the small caps are taking support at the lower levels.