Penny stocks to watch out for tomorrow, July 20, 2023

The Sensex concluded the day higher by 0.45%, reaching a new all-time high level of 67,171. In a similar fashion, the Nifty also achieved a new all-time high level of 19,851, recording a surge of 0.42%. Additionally, the Nifty Midcap index and the Nifty Smallcap index closed with gains of 0.68% and 0.78%, respectively. 

Among the top gainers were Nifty Media, Nifty Energy, and Nifty PSU Bank, while Nifty IT experienced the most significant loss. Individual stocks that performed well included NTPC, Indusind Bank, and Bajaj Finance, whereas Hindalco, TCS, and Bajaj Auto were among the top losers within the Nifty 50 index.  

The following penny stocks are likely to be in focus on Thursday, July 20, 2023:     

HCL Infosystems: 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 16.80 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. HCL Infosystems Ltd is primarily engaged into value-added distribution of technology, mobility and consumer electronic products. 

Aksh Optifibre: The stock surged and got locked at 20% upper circuit, exhibiting a robust breakout in both price and volume, to trade at an intraday high of Rs 9.65 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Aksh Optifibre is engaged in the manufacturing and selling of optical fibre, optical fibre cable, fibre reinforced plastic rods, impregnated glass roving reinforcement and ophthalmic lenses. 

Indowind Energy: The stock zoomed and got locked at 20% upper circuit, propelling its intraday trading price to reach a peak of Rs 14.85 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Indowind Energy Ltd, incorporated in 1995, is engaged in the business of generation and distribution of power through windmills. 

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.