Penny Stocks to Watch Out for Tomorrow, July 11, 2023

The Sensex and Nifty concluded the trading session with a slight increase of 0.1% and 0.12%, respectively. However, the Nifty Midcap experienced a decline of 0.38%, while the Nifty Smallcap saw a larger decrease of 0.58%. 

Among the top gainers were Nifty Energy and Nifty Metal, while Nifty IT, Nifty Realty, and Nifty Media faced losses. Reliance, JSW Steel, and Tata Steel emerged as the top gainers among the Nifty 50 stocks, while HCL Tech, Power Grid, and Titan registered losses. Approximately 727 stocks advanced, while 1264 stocks declined, indicating a prevailing negative sentiment in the broader market. 

The following penny stocks are likely to be in focus on Tuesday, July 11, 2023:     

Orient Abrasives: The stock zoomed more than 16%, propelling its intraday trading price to reach a peak of Rs 42.85 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Orient Abrasives Limited is engaged in the business of production and trading of aluminium refractories and monolithic products, mining of bauxite ores and generation of power.  

HLV Limited: A solid price volume break-out was seen at the counter today as the stock zoomed more than 11% to make an intra-day high of Rs 14.95 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. HLV Ltd is primarily engaged in the business of owning, operating and managing hotels, palaces and resorts. 

PC Jeweller: Exhibiting a robust breakout in both price and volume, the stock surged and got locked at 10% upper circuit, to trade at an intraday high of Rs 32.65 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. PC Jeweller is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond-studded jewellery and silver items and operates in different geographical areas.