Penny Stocks to Watch Out for Tomorrow, July 12, 2023

The Sensex and Nifty concluded the session with a 0.43% gain each, signalling a positive market trend. Nifty Midcap and Nifty Smallcap recorded gains of 0.88% and 1.26% respectively. Eicher Motors, Sun Pharma, and Apollo Hospitals emerged as the top gainers, while UPL, Bajaj Finance, and JSW Steel faced losses within the Nifty 50 index.  

Investors are eagerly anticipating the commencement of the corporate earnings season this week, as it provides important domestic cues. Among the companies set to report their financial results for the April-June period, Tata Consultancy Services (TCS), the IT giant of the Tata group, is scheduled to disclose its results on Wednesday, July 12,2023. 

The following penny stocks are likely to be in focus on Wednesday, July 12, 2023:     

Lloyds Steels Industries: The stock zoomed more than 16%, propelling its intraday trading price to reach a peak of Rs 31.30 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Lloyds Steels Industries is primarily engaged in the design, manufacturing and commissioning of heavy equipment, machinery & systems for the hydro-carbon sector, oil & gas, steel plants, power plants, nuclear plant boilers and turnkey projects. 

MIRC Electronics: The stock displayed a strong breakout in both price and volume, rallying and getting locked at 20% upper circuit, reaching an intraday high of Rs 21.65 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. The company is engaged in the business of manufacturing and marketing electronics goods primarily under the brand named- Onida and IGO.  

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 35.90 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. 

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.