The stock is up by 15.2 per cent from its 52-week low of Rs 59 per share

The stock is up by 70 per cent from its 52-week low of Rs 17.35 per share and gave multibagger returns of 280 per cent in 5 years.

From Rs 3.84 to Rs 15.30 per share, the stock gave multibagger returns of 298 per cent in 3 years.

The following penny stocks are likely to be in focus on Friday, February 02, 2024

On July 05, foreign institutional investors (FII) brought shares worth Rs 1,603.15 crore, while domestic institutional investors (DII) sold shares worth Rs 439.01 crore; according to preliminary data from the NSE.

The benchmark indices were trading mixed this week. On Friday, BSE Sensex closed on a positive note, up around 355.06 points or 0.62 per cent at 57,989.90.   

About 1,493 shares had advanced, 1,953 declined and 1647 were unchanged on BSE.

About 1,690 shares have advanced, 1,280 declined, and 133 are unchanged on the BSE. 

One of the trending news on the internet is the Hindenburg Research report which is raising concern over the debt positions of Adani group companies.

Wall Street indices ended lower overnight after the latest Fed rate hike. Mirroring the weakness on Wall Street, the majority of global indices witnessed a downturn. 

Following are the penny stocks that gave multi-bagger returns in just 1 month:

About 1,207 shares have advanced, 2,309 declined and 124 are unchanged. PSU Banks, FMCG and pharmaceutical companies have witnessed healthy buying interest but IT and teck equities continue to struggle. However, the Indian indices ended the day higher.

Today, the stock of this company was locked at 20 per cent at Rs 5.88.

The FIIs purchased shares worth Rs 369 crore during the most recent trading session, while DIIs sold shares worth Rs 295 crore.

On BSE the stock touched the upper circuit at Rs 13.76 AND saw a spurt in volume by more than 1.37 times. 

Penny stocks tend to gain momentum as markets show trend reversal. While many market observers believe that the current up move is simply a technical bounce and not necessarily a trend reversal, several penny stocks have managed to outperform the markets in July.  

Amidst all the chaos, there is only one stock on the Indian bourses that is seen defying gravity. A significant point to note here is that the stock has skyrocketed over 78 per cent in the last one week. 

As the market trade sideways after absorbing the rate hike decision, we find that pharma stocks and oil & gas stocks are outperforming the markets.  

BSE Sensex tanked over 600 points while Nifty 50 is weak by almost 200 points on Tuesday. BSE Midcap index is down by more than a per cent in line with the key benchmark indices while BSE Small cap index plunged 0.70 per cent.  

The markets depicted a substantial amount of volatility in a month which was full of surprises i.e. in May 2022. The major event in early May was the unscheduled MPC meet called by RBI amidst rising inflation. It ended up hiking repo rates by 40 bps and CRR by 50 bps. Both the benchmark indices i.e. Sensex and Nifty closed the month on a lower note. The broader markets also ended the month on a tepid note. On the sectoral front, the sectors which shone despite heavy selling were autos and FMCG whereas the one that faced a big pressure point was the metal sector. 

The current market sentiments are affected by factors such as rising inflation, aggressive monetary tightening, the Russia-Ukraine war, rising cases of COVID-19, and the rise in the crude price. In the last one month, the benchmark indices have fallen over 5 per cent whereas India VIX jumped 23.35 per cent, depicting hefty volatility.