Penny stocks to watch out for tomorrow, July 25, 2023

The Sensex and Nifty experienced declines, closing lower by 0.45% and 0.37% respectively. Nifty Midcap also closed lower, but by a marginal 0.15%, while Nifty Smallcap witnessed a gain of 0.37%. Among the sectors, Nifty Pharma, Nifty Realty, and Nifty Auto showed gains, whereas Nifty FMCG, Nifty Metal, and Nifty Energy faced losses. 

In terms of individual stocks, Dr Reddy’s Laboratories, SBI Life, and IndusInd Bank were among the top gainers, while Kotak Bank, ITC, and Tech Mahindra were among the top losers from the Nifty 50 index.  

The following penny stocks are likely to be in focus on Tuesday, July 25, 2023:     

Elgi Rubber Company: The stock displayed a strong breakout in both price and volume, rallying more than 19%, reaching an intraday high of Rs 46.45 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. Elgi Rubber Company Ltd is engaged in manufacturing a comprehensive range of raw materials, equipment, tools and accessories used in the rubber industry, predominantly in the tyre sector.  

Surana Solar: The stock zoomed and got locked at 20% upper circuit level at Rs 31.25 on the NSE. This surge in price coincided with a noticeable uptick in trading volume. The scrip witnessed some profit booking and closed 12.28% up at Rs 29.25 apiece on NSE. Surana Solar is engaged in the business of manufacturing solar photovoltaic modules, generation of wind & solar power energy and trading of other solar related products. 

Country Conndo’s: The stock surged and got locked at 10% upper circuit, exhibiting a robust breakout in both price and volume, to trade at an intraday high of Rs 4.75 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Country Condos Ltd is in the business of sale of plots under real estate segment.  

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.