Penny stocks to watch out for tomorrow, 12 September 2023

In a noteworthy development within the market, the Nifty index has achieved a historic milestone by crossing the 20,000 level, demonstrating a significant gain of 0.89%. Concurrently, the Sensex index has also concluded on a positive note, registering an increase of 0.79%.

Additionally, the Nifty Midcap index has displayed impressive strength, ending the day with a substantial gain of 1.14%, while the Nifty Smallcap index has also delivered a strong performance by closing significantly higher, surging by 1.33%.

Regarding the top-performing sectors, Nifty PSU Bank, Nifty Metal, and Nifty Auto have excelled, leading the market in terms of gains. Notably, Nifty Media was the sole major sector that performed below expectations for the day.

Upon analysing individual stocks within the Nifty 50 index, Adani Ports, Adani Enterprises, and Power Grid emerged as the top gainers, whereas Coal India, ONGC, and Bajaj Finance experienced declines.

The following penny stocks are likely to be in focus on Tuesday, September 12, 2023:     

FCS Software Solutions

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 3 per share on the NSE. FCS Software Solutions provides services in IT consulting, IT Infra management, IT-enabled services, and Learning solutions.

Vikas Lifecare

The company witnessed a robust price and volume breakout, resulting in the stock zooming and getting locked at 20% upper circuit, reaching an intraday high of Rs 6.45 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Vikas Lifecare Ltd trades and manufactures polymer, rubber compounds and additives for plastics, synthetic & natural rubber, infra, agro products, FMCG products, etc.

GTL Infrastructure

The counter experienced a notable increase in buying interest as the scrip zoomed and got locked at 10% upper circuit, reaching an intraday high of Rs 1.15 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. GTL Infrastructure is in the business of providing shared passive telecom infrastructure in India.

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.