Penny Stocks to Watch Out for Tomorrow, July 13, 2023

The Sensex ended the day with a decrease of 0.34%, while the Nifty closed lower by 0.28%. On the other hand, the Nifty Midcap saw a rise of 0.43%, and the Nifty Smallcap showed an increase of 0.76%. 

Among the top gainers were Nifty PSU Bank, Nifty Pharma, and Nifty Media, whereas Nifty Bank, Nifty IT, and Nifty Financial Services were among the top losers. From the Nifty 50, ONGC, Eicher Motors, and JSW Steel performed well, while Adani Enterprises, Ultratech Cement, and BPCL faced losses.  

The following penny stocks are likely to be in focus on Thursday July 13, 2023:     

Ashoka Metcast: 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 23.90 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. Ashoka Metcast Ltd does trading of steel, goods and others.  

MEP Infrastructure Developers: Exhibiting a robust breakout in both price and volume, the stock surged more than 15%, to trade at an intraday high of Rs 12.05 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. MEP Infrastructure Developers Ltd is engaged in the business of construction, operation, and maintenance of road infrastructure in India, with a focus on serving the central and state road authorities. 

Lloyds Steels Industries: The stock zoomed more than 8%, propelling its intraday trading price to reach a peak of Rs 32.25 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. 

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.