Penny Stocks to Watch Out for Tomorrow, July 6, 2023

The Sensex ended slightly lower, down by 0.05%, falling below the 65,500 level, while the Nifty closed slightly higher, up by 0.049%, surpassing the 19,300 level. Nifty Midcap and Nifty Smallcap concluded the day with gains of 0.71% and 0.74%, respectively. Nifty Auto, Nifty FMCG, and Nifty PSU Bank emerged as the top gainers, while Nifty Financial Services and Nifty Bank registered losses. 

Bajaj Auto, Hero MotoCorp, and Divi’s Laboratories were among the leading gainers in the Nifty 50, while Eicher Motors, HDFC, and HDFC Bank were among the top losers. Out of the total stocks traded, approximately 1185 stocks showed an upward movement, while 755 stocks declined, indicating a positive sentiment in the broader market. 

The following penny stocks are likely to be in focus on Thursday, July 06, 2023:     

Dish Tv: The stock zoomed 13.96%, propelling its intraday trading price to reach a peak of Rs 17.55 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Dish TV India Ltd is a leading direct-to-home (DTH) company, providing DTH services across segments in the country. 

Nila Spaces: A solid price volume break-out was seen at the counter today as the stock zoomed 19.71% to make an intra-day high of Rs 4.25 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. The scrip closed 18.31% up at Rs 4.20 per share on NSE. The company is involved in the construction as well as the development of infrastructure projects for sale and provides end-to-end services in the real estate industry. 

Incredible Industries: Exhibiting a robust breakout in both price and volume, the stock surged and got locked at 10% upper circuit, to trade at an intraday high of Rs 26.30 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Incredible Industries is engaged in the manufacturing and sale of iron and steel-related rolled products.