Penny stocks to watch out for tomorrow, 24 August 2023

At the close of the trading day, the Sensex and Nifty concluded with gains of 0.33% and 0.25%, respectively, reflecting a favourable outlook. The end-of-day bell signalled notable increases for the Nifty Midcap, which achieved a significant rise of 0.39%, and the Nifty Smallcap, showing an impressive surge of 0.91%. 

Leading the way among the top performers were the Nifty PSU Bank, Nifty Bank, and Nifty Financial Services sectors, contributing to the market’s upward trajectory. Conversely, setbacks were faced by the Nifty Energy, Nifty FMCG, and Nifty Metal sectors. 

Within the Nifty 50 stocks, Hindalco, Axis Bank, and ICICI Bank emerged as notable gainers, driving the index’s positive momentum. On the flip side, Adani Enterprises, Adani Ports, and Sun Pharma experienced declines, exerting a negative influence on the index’s performance. 

The following penny stocks are likely to be in focus on Thursday, August 24, 2023:     

Lasa Supergenerics– 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 29.15 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Lasa Supergenerics Limited is engaged in manufacturing veterinary & human APIs, and animal feed ingredients, and specialises in catalyst chemistry. 

Surana Telecom and Power- 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 12.40 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Surana Telecom and Power Limited is engaged in the business of manufacturing and trading solar-related products, generation of solar power and wind power. 

Country Club Hospitality & Holidays – The stock experienced a substantial surge in its stock price, with the stock zooming more than 11%, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 10.15 per share on the NSE. Country Club Hospitality & Holidays is a pioneer in the concept of offering 360-degree leisure hospitality membership services 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.