Penny stocks to watch out for Monday, 17 July 2023

The Sensex experienced a significant increase of 0.77%, reaching a new record high of 66,159 points. Similarly, the Nifty also reached an all-time high of 19,595 points. The Nifty Midcap and Nifty Smallcap indices showed strong growth, surging by 1.15% and 1.42% respectively. 

Among the top gainers were Nifty IT, Nifty Metal, and Nifty Media, while Nifty Energy emerged as the top loser. From the Nifty 50 index, Tech Mahindra, TCS and Infosys were among the leading gainers, whereas Power Grid, M&M and HDFC Life were among the top losers.  

The following penny stocks are likely to be in focus on Monday, July 17, 2023:     

Zee Media Corporation: The stock displayed a strong breakout in both price and volume, rallying and getting locked at 10% upper circuit, reaching an intraday high of Rs 10.45 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. Zee Media Corporation Limited is an Indian news organization with interests in global, national, regional news channels and digital news publishing.  

Sindhu Trade Link: Exhibiting a robust breakout in both price and volume, the stock surged more than 9.5%, to trade at an intraday high of Rs 27 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Sindhu Trade Links Ltd is primarily engaged in transportation logistics and support services. The company through its subsidiaries is also engaged in diversified businesses like media, overseas coal mining, bio-mass based power generation etc. 

Lloyds Steels Industries: The stock zoomed more than 10%, propelling its intraday trading price to reach a peak of Rs 35.75 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Lloyds Steels Industries is primarily engaged in the design, manufacturing and commissioning of heavy equipment, machinery & systems for the hydro-carbon sector, oil & gas, steel plants, power plants, nuclear plant boilers and turnkey projects. 

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.