Penny stocks to watch out for Friday, 30 June 2023

The Sensex concluded the trading session with a gain of 0.79%, surpassing the 63,900 level, while the Nifty recorded a higher closure of 0.82%, going beyond the 18,900 level. Both Nifty Midcap and Nifty Smallcap indices registered gains of 0.63% and 0.35% respectively. 

Notably, Nifty Pharma, Nifty Metal, and Nifty Energy emerged as the top gainers, while the Nifty media sector suffered the highest losses. Adani Enterprises, Adani Ports, and JSW Steel were among the prominent gainers, whereas HDFC Life, Hero Motocorp, and Tech Mahindra featured as the top losers among Nifty 50 stocks. 

The following penny stocks are likely to be in focus on Friday, June 30, 2023:     

Sera Investments & Finance India: The stock witnessed a substantial surge as it got locked at 5% upper circuit, driving its intraday trading price to reach a high of Rs 11.17 per share on the BSE. This price surge was accompanied by a notable increase in trading volume. The company is an investment company and is mainly involved in trading in stock market, providing loan and leasing.  

Patel Engineering: The stock displayed a strong breakout in both price and volume, rallying and getting locked at 5% upper circuit, reaching an intraday high of Rs 32.20 per share on the BSE. This surge in price was accompanied by a significant rise in trading volume. Patel Engineering, a 73-year-old construction company established in 1949, has grown to become a specialist in the hydropower generation and irrigation sectors. 

Nila Spaces: A solid price volume break-out was seen at the counter today as the stock zoomed 19.69% to make an intra-day high of Rs 3.95 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. The scrip witnessed some profit booking in the gains and closed 12.12% up at Rs 3.70 per share on NSE. The company is involved in the construction as well as the development of infrastructures projects for sale and to provide end to end services in the real estate industry.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations.