Penny stocks to watch out for tomorrow, 11 August 2023

The trading session concluded with the Sensex and Nifty both recording losses of 0.47% and 0.46%, respectively. Meanwhile, the Nifty Midcap experienced a slight decrease of 0.08%, while the Nifty Smallcap saw a more significant drop of 0.47%. 

Among sectors, Nifty Media, Nifty Metal, and Nifty Energy emerged as the top gainers, displaying strong momentum. In contrast, Nifty FMCG, Nifty PSU Bank, and Nifty Financial Services encountered challenges and emerged as the top losers. 

Within the Nifty 50, IndusInd Bank, Adani Enterprises, and Adani Ports stood out as the top gainers, showcasing their strength. However, Asian Paints, Kotak Bank, and ITC faced declines, positioning them among the leading losers. 

The following penny stocks are likely to be in focus on Friday, August 11, 2023:     

Manugraph India: The stock experienced a substantial surge in its stock price, with the stock getting locked at 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 22.25 per share on the NSE. Manugraph India Ltd is a manufacturer of single-width web-offset printing presses and provides installation and after-sales services.  

DB (International) Stock Brokers – 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 35.75 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. The company is engaged in a single line of business i.e. stock broking and provides depository participant services of CDSL. 

Lypsa Gems & Jewellery: The company witnessed a robust price and volume breakout, resulting in the stock surging and getting locked at 20% upper circuit, reaching an intraday high of Rs 5.85 per share on the NSE. This price rally was backed by a substantial increase in trading volume and the scrip closed 16.33% up at Rs 5.70 apiece on NSE. Lypsa Gems and Jewellery Ltd is in three core activities: rough preparation, manufacturing and polished diamonds marketing. 

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.