Penny stocks to watch out for Monday, 4 September 2023

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index and Nifty-50 Index each gaining 0.75%. Additionally, the Nifty Midcap experienced a modest increase of 0.70%, whereas the Nifty Smallcap exhibited significant growth, finishing the session up by 1.17%. 

Nifty Metals and Nifty Auto emerged as winners among the sectors, whereas Nifty Pharma and Nifty Healthcare encountered losses in the sectoral landscape. 

At the individual stock level NTPC Ltd, Jio Financial Services Ltd and Oil & Natural Gas Corporation Ltd emerged as prominent gainers, while Cipla Ltd, Nestle India Ltd and HDFC Life Insurance Company Ltd registered losses within the Nifty 50 index.  

The following penny stocks are likely to be in focus on Monday, September 04, 2023:      

Landmark Property Development Company Limited- The counter experienced a notable increase in buying interest as the scrip zoomed and got locked at 20% upper circuit, reaching an intraday high of Rs 7.25 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Landmark Property Development Company Ltd is a part of Dalmia Group and used to be in the mining business but post demerger it is in the business of real estate development and also provides advisory and consultancy services.  

Digjam Limited- The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at 5% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 86.15 per share on the NSE. The company announced its annual general meeting on September 22, 2023. Digjam Ltd trades in all kinds of textiles and manufactures high-quality woollen/ worsted fabrics 

Servotech Power Systems Limited – The company witnessed a robust price and volume breakout, resulting in the stock locked in 5%, reaching an intraday high of Rs 86.25 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Servotech Power Systems, incorporated in 1998, is engaged in manufacturing LED lighting solutions, UPS (uninterruptible power supply) systems, inverters, and batteries. The company earlier signed a MoU with UP Government to establish an EV charger manufacturing plant in Uttar Pradesh.  

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.