Penny stocks to watch out for tomorrow, August 9, 2023

The trading session in the Indian stock market concluded with a marginal downturn, reflecting a decrease of 0.16% for the Sensex and 0.13% for the Nifty. However, in a contrasting display of resilience, Nifty Midcap and Nifty Smallcap indices exhibited strength, closing the day with gains of 0.23% and 0.27%, respectively. 

Prominently, Nifty PSU Bank, Nifty Media, and Nifty Pharma stood out as notable performers, showcasing appreciable gains. In contrast, Nifty Metal, Nifty Energy, and Nifty Auto sectors faced declines throughout the trading session. Significant gainers within the Nifty 50 index included Hero Motocorp, SBI Life, and Cipla, while Adani Enterprises, Power Grid, and Hindalco emerged as the primary decliners of the day. 

The following penny stocks are likely to be in focus on Wednesday, August 09, 2023:     

Pritika Auto Industries: The stock experienced a substantial surge in its stock price, with the stock getting locked at 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 22.85 per share on the NSE. The scrip witnessed some profit booking and closed 14.47% up at Rs 21.75 apiece on NSE. Pritika Auto Industries is engaged in the manufacturing of tractor and automobile components. 

Sambhaav Media: 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 4.20 per share on the NSE. This price rally was backed by a substantial increase in trading volume. Sambhaav Media Limited is engaged in the business of print media in the form of newspaper and magazine publications, audio-video media in the form of public entertainment systems and TV channels and digital media by way of online portals. 

Mohit Industries: The company observed a significant spike, with its stock surging 20%, reaching the upper circuit level of Rs 16.40 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 14.96% up at Rs 15.75 per share on NSE. Mohit Industries Ltd manufactures texturized yarn from POY and weaving of the yarn into grey cloth.

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.