Penny Stocks To Watch Out For Tomorrow, 5 September 2023

In the latest trading session, the Sensex and Nifty have concluded on a positive note, posting gains of 0.37% and 0.48%, respectively. Notably, the Nifty Midcap has closed significantly higher with an impressive gain of 0.98 per cent, while the Nifty Smallcap has made substantial gains, closing up by 1.33%. 

Leading the gains were Nifty PSU Bank, Nifty Metal, and Nifty IT, while Nifty FMCG was the only major sector underperforming. Among individual stocks within the Nifty 50 index, Coal India, Wipro, and HCL Tech emerged as top gainers, while Nestle India, M&M, and Axis Bank witnessed declines. 

The following penny stocks are likely to be in focus on Tuesday, September 05, 2023:     

GMR Power & Urban Infra – 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 34.10 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. GMR Power and Urban Infra Limited (GPUIL), a subsidiary of GEPL, holds expertise in the sectors of energy, urban infrastructure and transportation. 

Energy Development Company- 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 21.15 per share on the NSE. Energy Development Company Ltd does generation and sale of bulk power and trading of power equipment.  

Cyber Media (India) Limited– The company witnessed a robust price and volume breakout, resulting in the stock zooming more than 18%, reaching an intraday high of Rs 22 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Cyber Media (India) Ltd is in print media and publishing, digital marketing, contents, analytics, management consultancy, etc. 

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.