Penny stocks to watch out for tomorrow, 25 August 2023

During the closing bell, the Sensex and Nifty saw declines of 0.28% and 0.29%, respectively. In the midst of this, the Nifty Midcap exhibited a notable increase of 0.24%, while the Nifty Smallcap encountered a minor decrease of 0.35%. 

Significant advancements were observed in the Nifty IT, Nifty FMCG, and Nifty Realty sectors, contributing favourably to the market landscape. On the contrary, the Nifty Energy, Nifty PSU Bank, and Nifty Pharma sectors experienced setbacks. 

Among the constituents of the Nifty 50 index, BPCL, Asian Paints, and IndusInd Bank emerged as prominent advancers, lending support to the index’s overall performance. Conversely, Jio Financial Services, Reliance, and ONGC underwent declines, impacting their positions within the index. 

The following penny stocks are likely to be in focus on Friday, August 25, 2023:     

Mcleod Russel India  – The company witnessed a robust price and volume breakout, resulting in the stock zooming more than 17%, reaching an intraday high of Rs 22.80 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Mcleod Russel India Ltd is a part of the Williamson Magor Group and is engaged in the business of cultivation, manufacture and sale of tea in domestic as well as international markets 

Surana Telecom and Power – The counter experienced a notable increase in buying interest as the scrip zoomed more than 8%, reaching an intraday high of Rs 13.50 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. 

Bajaj Hindusthan Sugar – The stock experienced a substantial surge in its stock price, with the stock zooming more than 15%, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 25.35 per share on the NSE. The company is engaged in the manufacture of sugar, alcohol, ethanol, and the generation of power. 

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.