Penny Stocks To Watch Out For Tomorrow, 31 August 2023

In the closing of today’s trading session, both the Sensex and Nifty exhibited slight upward movements of 0.018% and 0.025%, respectively, indicating a marginal increase. Meanwhile, the Nifty Midcap showcased a more robust performance, closing higher by 0.73%, while the Nifty Smallcap displayed a noteworthy increase of 1.03%. 

Among the gainers, Nifty Realty, Nifty Metal, and Nifty IT held notable positions, contributing to the upward momentum. On the flip side, Nifty Bank, Nifty Financial Services, and Nifty Energy faced losses among sectors. 

Individual stock movements highlighted Jio Financial Services, Tata Steel, and Maruti as prominent gainers. In contrast, Power Grid, BPCL, and SBIN stood out as the top losers within the Nifty 50 index. 

The following penny stocks are likely to be in focus on Thursday, August 31, 2023:     

Take Solutions– The company witnessed a robust price and volume breakout, resulting in the stock getting locked at 20% upper circuit, reaching an intraday high of Rs 21.90 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. 

Head UP Ventures- 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 21.90 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Heads UP Ventures Ltd is in the retailing of apparel and accessories.  

Mcleod Russel India – The stock experienced a substantial surge in its stock price, with the stock zooming more than 16%, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 24.90 per share on the NSE. Mcleod Russel India is engaged in the business of cultivation, manufacture and sale of tea in domestic as well as international markets. 

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.