Five back-to-back upper circuit stocks to watch this week

Frontline indices recovered from lows, painting the day green with Sensex closing 0.38% higher at 71,658 and Nifty jumping 0.34% to 21,619. The buoyant market sentiment lifted the total market capitalization of BSE-listed companies to a staggering Rs 368.76 lakh crore, or nearly Rs 369 lakh crore, as of January 10, 2024.

Reliance Industries, ICICI Bank, and HDFC Bank emerged as the heavy lifters, collectively contributing almost the entire Nifty gains. Sensex climbed 271 points to 71,658, while Nifty scaled up 74 points to 21,619. The broader market also participated in the rally, with Nifty Bank surging 118 points to 47,361 and the midcap index rising 137 points to 47,107.

Reliance Industries continued its stellar run, hitting a record high and pushing the Reliance Group’s market capitalization past the Rs 20 lakh crore mark for the first time.

Further adding excitement to the session, several penny stocks grabbed investor attention, hitting consecutive upper circuit limits.

These low-priced gems offered explosive returns, injecting a dose of thrill into the trading day:

1. Goblin India Ltd is in the business of importing and trading luggage bags, travel accessories and corporate gifts. The stock has been in the upper circuit for the past two sessions and has delivered 20.69% returns over 5 days.
2. Shares of Jyoti Structures Ltd have been locked in back-to-back upper circuits for the past 3 trading sessions and has delivered 14.71% over 5 days. The company is engaged in electricity, transmission, distribution and substation.
3. Shelter Pharma Limited is engaged in the business of manufacturing herbal products in the Human Pharma and Veterinary space. The stock has been in back-to-back UC for the past 2 sessions and has given 17.63% returns over the past 5 days.
4. Siyaram Recycling Industries Ltd’s main activities include segregating brass scrap, manufacturing brass ingots, billets, and brass rods, and producing brass-based components. The stock has been in the upper circuit for the past 5 trading sessions and has delivered a whopping 74.23% returns in 5 days.
5. Dhatre Udyog Ltd (Narayani Steels Limited) is principally engaged in the business of manufacture and sale of TMT bars, Rounds, Squares, Angles, etc. and trading of Billets, Blooms, Ingots, Iron ores, etc. The stock has been in the upper circuit for the past 5 trading sessions and has delivered a whopping 33.83% returns in 5 days.

It’s crucial to note that despite tempting prices and impressive returns, investors should avoid greed. Use strict stop loss and only trade an amount you’re willing to lose, ensuring that potential losses won’t negatively impact you mentally or financially.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.