Penny stocks to watch out for Monday, 3 July 2023

The Sensex and Nifty achieved record-breaking highs, closing with gains of 1.14% and 1.26%, respectively. During Friday’s trading session, specific sectors stood out prominently. Notably, Nifty IT, Nifty Auto, and Nifty PSU Bank emerged as the top performers, each experiencing gains exceeding 2%. Over the course of the week, the Nifty Pharma and Nifty Auto indices stole the limelight, surging more than 4% each. 

M&M, Infosys, IndusInd Bank, Sun Pharma, and Hero Motorcop emerged as the leading gainers in the Nifty index. Conversely, Adani Ports, Adani Enterprises, Apollo Hospitals, Bajaj Auto, and Divis Labs were among the top losers in the Nifty index. 

The following penny stocks are likely to be in focus on Monday, July 03, 2023:     

Shree Rama Multi-Tech: Experiencing a significant boost, the stock hit the upper circuit of 20%, propelling its intraday trading price to reach a peak of Rs 15.40 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Shree Rama Multi-Tech Ltd, a prominent provider of packaging solutions, holds a strong customer base in both domestic and international markets. 

Blue Chip India: The stock witnessed a notable price volume break-out today, soaring by 6.25% and reaching an intra-day high of Rs 0.85 per share on the NSE. This upward surge in price coincided with a substantial increase in trading volume. Blue Chip India Ltd operates in the lending sector, offering various loan services. 

Patel Engineering: Exhibiting a robust breakout in both price and volume, the stock surged and hit the 5% upper circuit, reaching a peak of Rs 33.81 per share on the BSE. This remarkable price surge was accompanied by a notable increase in trading volume. Patel Engineering, a construction company with a rich history spanning 73 years since its establishment in 1949, has evolved into a specialist in the hydropower generation and irrigation sectors. 

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