Penny Stocks To Watch Out For Tomorrow, 1 September 2023

In the latest market session, both the Sensex and Nifty concluded with slight drops of 0.39% and 0.48%, respectively. On the flip side, Nifty Midcap posted a modest gain of 0.11%, while Nifty Smallcap displayed notable growth, closing higher by 0.81%. 

Among the gainers were Nifty Realty and Nifty IT, while Nifty PSU Bank, Nifty Energy, and Nifty FMCG faced losses in the sectoral spectrum. 

At the individual stock level, Maruti, Cipla, and HDFC Life emerged as prominent gainers, while Adani Enterprises, Adani Ports, and BPCL registered losses within the Nifty 50 index. 

The following penny stocks are likely to be in focus on Friday, September 01, 2023:     

Manugraph India – 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 27.05 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Manugraph India Ltd is a manufacturer of single-width web-offset printing presses and provides installation and after-sales services.  

HLV Limited- The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 16.25 per share on the NSE. The scrip witnessed some profit booking and closed 18.82% up at Rs 16.10 apiece on NSE. HLV Ltd is primarily engaged in the business of owning, operating & managing hotels, palaces and resorts. 

Take Solutions– The company witnessed a robust price and volume breakout, resulting in the stock zooming more than 10%, reaching an intraday high of Rs 24.15 per share on the NSE. This price rally was backed by a substantial increase in trading volume. The company is currently a technology-driven, full-service clinical research organization and helps biopharma companies throughout the drug development process, and beyond.

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.