Penny stocks to watch out for tomorrow, August 1, 2023

The Indian stock market ended the trading session on a bullish note, witnessing substantial gains in key indices. The Sensex recorded an impressive surge of 367 points, closing at 66,527.67, while the Nifty also displayed strong performance, climbing 107 points to reach 19,753.80, reaching new record highs and indicating positive investor sentiment. 

Furthermore, both the Nifty Midcap and Nifty Small cap indices displayed significant strength, closing with gains of 0.97% and 0.88%, respectively, highlighting the robust performance of mid and small-cap segments. 

The following penny stocks are likely to be in focus on Tuesday, August 01, 2023:     

Aarey Drugs & Pharmaceuticals: The company witnessed a robust breakout in both price and volume, leading to the stock getting locked at 20% upper circuit and hitting an intraday high of Rs 39.60 per share on the NSE. This surge in price was supported by a substantial increase in trading volume. Aarey Drugs & Pharmaceuticals Ltd is engaged in manufacturing and trading of APIs and bulk drugs and offers a range of products for diverse industrial applications. 

Sindhu Trade Links: Sindhu Trade Links observed a substantial spike with stock getting locked at 20% upper circuit, reaching an intraday high of Rs 28.30 per share on the NSE. This remarkable price increase was accompanied by a noticeable rise in trading volume and closed 19.49% up at Rs 28.20 per share on NSE. Sindhu Trade Links Ltd is primarily engaged in transportation logistics and support services. The company through its subsidiaries is also engaged in diversified businesses like media, overseas coal mining, biomass based power generation etc. 

Laxmi Cotspin: Laxmi Cotspin experienced a substantial surge in its stock price, leading to the stock zooming more than 11%, indicating a strong breakout in both price and volume. The stock reached an impressive intraday high of Rs 21.20 per share on the NSE, and this notable price surge was supported by a significant rise in trading volume. Laxmi Cotspin Ltd is in the business of cotton processing.  

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.