Penny stocks to watch out for tomorrow, August 3, 2023

Sensex and Nifty concluded the session with declines of 1.02% and 1.05% respectively. Nifty Midcap recorded a decrease of 1.33%, while Nifty Smallcap experienced a decline of 1.58%. All major sectors showed negative trends, with Nifty Auto, Nifty PSU Bank, and Nifty Metal being the top losers. 

In contrast, Divi’s Laboratories, Hindustan Unilever, and Nestle India emerged as the top gainers, while Tata Steel, Hero Motocorp, and Tata Motors were the top losers among the Nifty 50 index. 

The following penny stocks are likely to be in focus on Thursday, August 03, 2023:     

Anik Industries: The company witnessed a robust breakout in both price and volume, leading to the stock zooming more than 15% and hitting an intraday high of Rs 36 per share on the NSE. This surge in price was supported by a substantial increase in trading volume. The scrip witnessed some profit booking and closed 11.72% up at Rs 34.80. Anik Industries Ltd is primarily engaged in the business of trading of agri-commodities, edible oil & vanaspati, property development, windpower generation & others.  

Burnpur Cement: Burnpur Cement observed a substantial spike with stock surging and getting locked at 10% upper circuit, reaching an intraday high of Rs 4.60 per share on the NSE. This remarkable price increase was accompanied by a noticeable rise in trading volume. Burnpur Cement Ltd is in the business of cement manufacturing.  

Madhav Copper: Madhav Copper experienced a substantial surge in its stock price, leading to the stock zooming more than 4.9%, indicating a strong breakout in both price and volume. The stock reached an impressive intraday high of Rs 41.10 per share on the NSE, and this notable price surge was supported by a significant rise in trading volume. The scrip witnessed some profit booking and closed higher by 2.55% at Rs 40.15. Madhav Copper manufactures and trades in copper winding wires, enameled copper wires, enameled copper round winding wire, poly wrap submersible winding wires, enameled aluminum round winding wire, bare copper wire, and other copper strips and wires 

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.