Penny stocks to watch out for tomorrow, July 21, 2023

Sensex closed higher by 0.71% after reaching its all-time high level of 67,619. Similarly, Nifty closes higher by 0.74% after reaching its all-time high level of 19,991. Nifty Midcap and Nifty Smallcap surged by 0.25% and 0.37% respectively. 

Nifty Pharma, Nifty Bank and Nifty FMCG were among the top gainers while Nifty IT was the top loser for the day. ITC, ICICI Bank and Kotak Bank were among the top gainers while Reliance, Infosys and Ultra cement were among the top losers from the Nifty 50. 

The following penny stocks are likely to be in focus on Friday, July 21, 2023:     

Shah Metacorp: 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 3.60 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. Shah Metacorp is engaged in the business of manufacturing stainless steel and mild steel long products from scrap. 

KCP Sugar and Industries Corporation: 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 29.75 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. The scrip witnessed some profit booking and closed 15.32% up at Rs 28.60 apiece on NSE. KCP Sugar and Industries Corporation is engaged in the manufacturing of sugar as well as its associated products such as rectified spirit, extra neutral alcohol, ethanol, incidental cogeneration of power etc. 

Jayaswal Neco Industries: The stock zoomed more than 13%, propelling its intraday trading price to reach a peak of Rs 31.50 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Jayaswal Neco Industries Limited (JNIL) is the flagship company of NECO Group of Industries and is engaged in the manufacturing and supply of billets, rolled products, pig iron & skull, sponge iron, pellet, steel, and iron & steel castings.  

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.