Penny stocks to watch out for tomorrow, August 4, 2023

The Sensex and Nifty concluded the trading session with declines of 0.82% and 0.74%, respectively. On a positive note, Nifty Midcap and Nifty Smallcap experienced gains of 0.25% and 0.12%, respectively. 

Among the top performers, Nifty Pharma and Nifty Media sectors showed notable gains, while Nifty Realty, Nifty Bank, and Nifty Financial services sectors registered losses. Notable gainers from the Nifty 50 index included Adani Enterprises, Adani Ports, and Eicher Motors, whereas UPL, ICICI Bank, and Titan were among the prominent losers. 

The following penny stocks are likely to be in focus on Friday, August 04, 2023:     

Anik Industries: 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 40.80 per share on the NSE. This surge in price was supported by a substantial increase in trading volume. Anik Industries Ltd is primarily engaged in the business of trading of agri-commodities, edible oil & vanaspati, property development, windpower generation & others.  

Sagardeep Alloys: The company observed a substantial spike with stock surging and getting locked at 20% upper circuit, reaching an intraday high of Rs 25.10 per share on the NSE. This remarkable price increase was accompanied by a noticeable rise in trading volume. Sagardeep Alloys is the umbrella brand of Sagardeep Metals and is in the manufacturing of copper alloys consumables and other copper products and also trades in stainless steel sheets / coils.  

Udaipur Cement Works: Udaipur Cement Works experienced a substantial surge in its stock price, leading to the stock zooming more than 13%, indicating a strong breakout in both price and volume. The stock reached an impressive intraday high of Rs 28.70 per share on the NSE, and this notable price surge was supported by a significant rise in trading volume. Madhav Copper manufactures and trades in copper winding wires, enamelled copper wires, enamelled copper round winding wire, poly wrap submersible winding wires, enamelled aluminium 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.