Penny Stocks to Watch Out for Tomorrow, July 4, 2023

The Sensex ended the day with a gain of 0.75%, reaching a record high of 65,300. Similarly, the Nifty closed 0.7% higher, reaching an all-time high of 19,345. The Nifty Midcap saw a 0.25% gain, while the Nifty Smallcap recorded a gain of 1.23%. 

Among the top gainers were Nifty PSU Bank, Nifty Energy, and Nifty Metal, while Nifty Pharma, Nifty Auto, and Nifty IT were among the top losers towards the end of the day. From the Nifty 50, BPCL, Grasim, and ITC were the top gainers, while Bajaj Auto, Power Grid, and Sun Pharma were the top losers. A total of 1,084 stocks showed advances, while 831 stocks showed declines, indicating a positive sentiment in the broader market. 

The following penny stocks are likely to be in focus on Tuesday, July 04, 2023:     

Patel Engineering: Exhibiting a robust breakout in both price and volume, the stock surged 4.88%, reaching a peak of Rs 35.40 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Patel Engineering, a construction company with a rich history spanning 73 years since its establishment in 1949, has evolved into a specialist in the hydropower generation and irrigation sectors. 

GTL Limited: The stock hit the upper circuit level of 20%, propelling its intraday trading price to reach a peak of Rs 7.05 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. GTL is a network services company, offering services and solutions to address the network life cycle requirements of telecom operators, technology providers (OEM’s) and tower companies. 

RattanIndia Power: The stock displayed a strong breakout in both price and volume, rallying and hitting the upper circuit of 10%, with an intraday high of Rs 5.30 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. RattanIndia Power Limited is one of India’s largest private power generation companies, with 2,700 MW thermal power plants located in Amravati and Nashik, Maharashtra, India. 

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