Penny stocks to watch out for tomorrow, August 8, 2023

The Sensex registered a 0.35% gain, and the Nifty closed 0.41% higher. Moreover, Nifty Midcap and Nifty Smallcap performed well, closing with gains of 0.51% and 0.22%, respectively.  

Notably, Nifty Pharma, Nifty IT, and Nifty Realty were the top gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Media experienced losses. Among the Nifty 50, M&M, Divi’s Laboratories, and SBI Life emerged as the top gainers, whereas Britannia, SBIN, and Bajaj Auto faced losses 

The following penny stocks are likely to be in focus on Tuesday, August 08, 2023:     

Patel Integrated Logistics: The company witnessed a robust price and volume breakout, resulting in the stock getting locked at 20% upper circuit, reaching an intraday high of Rs 17.60 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Patel Integrated Logistics is in the business of logistics services, offering unified logistics solutions through the extensive infrastructure of offices and delivery destinations all over the country. 

Surana Telecom and Power: The company observed a significant spike, with its stock surging 20%, reaching the upper circuit level of Rs 11.70 per share on the NSE. This notable price upswing was accompanied by a considerable rise in trading volume. The scrip witnessed some profit booking and closed 16.92% up at Rs 11.40 per share on NSE. Surana Telecom and Power Limited is engaged in the business of manufacturing and trading solar-related products, generation of solar power and wind power. 

Udaipur Cement Works: Udaipur Cement Works experienced a substantial surge in its stock price, with a zoom of over 7.5%, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 33.85 per share on the NSE. Udaipur Cement Works Limited is presently a subsidiary of Indian cement manufacturing company, JK Lakshmi Cement Limited, which is part of the reputed business conglomerate JK Organisation (JKO) with a rich business legacy of more than 135 years. 

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.