Penny Stocks To Watch Out For Tomorrow, 6 September 2023

Sensex has closed higher, showing a gain of 0.23%, while Nifty is not far behind, closing with a 0.24% increase. Remarkably, the Nifty Midcap has outperformed with a significant gain of 1.06% and the Nifty Smallcap has also shown substantial growth, closing 0.77% higher. 

Leading the gainers in the market are Nifty Media, Nifty Pharma, and Nifty Realty, while Nifty Financial Services and Nifty Bank are among the top losers. 

Among individual stocks in the Nifty 50 index, top gainers include Coal India, Apollo Hospitals, and Sun Pharma, whereas UltraTech Cement, SBI Life, and Dr Reddy’s Laboratories are among the leading losers. 

The following penny stocks are likely to be in focus on Wednesday, September 06, 2023:     

Shree Rama Newsprint – 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 15.90 per share on the NSE. Shree Rama Newsprint Limited is engaged in the business of manufacturing and selling papers. 

Manaksia Coated Metals & Industries– The company witnessed a robust price and volume breakout, resulting in the stock zooming more than 17%, reaching an intraday high of Rs 24.50 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Manaksia Coated Metals & Industries is engaged in manufacturing value-added secondary metal products like galvanised corrugated sheets, galvanised plain sheets and colour-coated sheets.  

GMR Power & Urban Infra – 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 37.50 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. 

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.