Penny stocks to watch out for Monday, 10 July 2023

The Sensex experienced a dip of 0.77%, reaching a level of 65,280 points, while the Nifty-50 Index traded at a level of 19,331.80 points with a 0.85% decrease. The Nifty Midcap and Nifty Smallcap indices closed lower with a decrease of 0.95% and 0.59%, respectively.  

Among the sectors, Nifty PSU Bank, Nifty Media, and Nifty Auto emerged as the top gainers, while Nifty FMCG and Nifty Realty were the top losers. From the Nifty 50 index, Tata Motors Ltd, Titan India Ltd and Mahindra & Mahindra Ltd were the top gainers, while Adani Ports & Special Economic Zone, Power Grip Corporation of India Ltd and Apollo Hospitals Enterprises Ltd were the top losers.   

The following penny stocks are likely to be in focus on Monday, July 10, 2023:      

Kaushalya Infrastructure Development Corporation Ltd: The stock zoomed 4.30%, propelling its intraday trading price to reach a peak of Rs 4.85 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Kaushalya Infrastructure Development Corporation Ltd is engaged in executing construction contracts relating to infrastructure, real estate developments, acquisition and development, and sale of land. 

Reliance Home Finance Ltd: A solid price volume break-out was seen at the counter today as the stock zoomed more than 4.80% to make an intra-day high of Rs 3.35 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. RHFL was incorporated in 2009 as part of Reliance Capital Group. It is registered as a housing finance company with National Housing Bank and is engaged in mortgage-based lending operations like home loans, affordable housing, LAP, and construction finance. 

Shree Ram Proteins Ltd: Exhibiting a robust breakout in both price and volume, the stock surged 5%, to trade at an intraday high of Rs 3.15 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Shree Ram Proteins Ltd is in the business of edible oil and solvent extraction from all types of agro. The company recently announced a rights issue. 

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.