Penny stocks to watch out for Monday!

The Sensex and Nifty indices concluded the session by recording declines of 0.31% and 0.44%, respectively. Similarly, within the Nifty range, the Nifty Midcap concluded with a decrease of 0.33%, while the Nifty Smallcap experienced a more notable decline, closing down by 0.6%. 

Looking at sectoral performance, the Nifty PSU Bank, Nifty FMCG, and Nifty Metal segments demonstrated strong performance, showing positive trends. Conversely, the Nifty IT, Nifty Realty, and Nifty Pharma sectors incurred losses and were among the top decliners. 

Specifically, within the Nifty 50 index, Adani Enterprises, Adani Ports, and Eicher Motors emerged as the leading gainers. In contrast, Coal India, Hero MotoCorp, and TCS stood out as significant losers within this context. 

The following penny stocks are likely to be in focus on Monday, August 21, 2023:     

Flexituff Ventures International – The stock experienced a substantial surge in its stock price, with the stock getting locked at 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 39.45 per share on the NSE. Flexituff Ventures International Ltd is engaged in the business of technical textiles.  

Libas Consumer Products- The counter experienced a notable increase in buying interest as the scrip zoomed more than 19%, reaching an intraday high of Rs 14.40 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Libas Consumer Products Ltd is an SME which is engaged in two major businesses – Ethnic Fashion and Gangji Rock Salt.  

Celebrity Fashions – The company witnessed a robust price and volume breakout, resulting in the stock zooming more than 15%, reaching an intraday high of Rs 16.05 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Celebrity Fashions Ltd manufactures and exports all types of textile garments and clothing accessories to many multinational brands.  

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.