Penny Stocks to Watch Out for Tomorrow, July 7, 2023

The Sensex experienced a surge of 0.52%, reaching a new all-time high of 65,832 points, while the Nifty also achieved a new all-time high of 19,512 points with a 0.51% increase. The Nifty Midcap and Nifty Smallcap indices closed higher, recording gains of 0.97% and 0.8% respectively. 

Among the sectors, Nifty Realty, Nifty Media, and Nifty Energy emerged as the top gainers, while Nifty FMCG and Nifty IT were the top losers. From the Nifty 50 index, Apollo Hospitals, Power Grid, and M&M were the top gainers, while Eicher Motors, Maruti, and HDFC Life were the top losers.  

The following penny stocks are likely to be in focus on Friday, July 07, 2023:     

Genus Paper & Boards: The stock zoomed 19.93%, propelling its intraday trading price to reach a peak of Rs 17.75 per share on the NSE. This surge in price coincided with a noticeable uptick in trading volume. Genus Paper & Boards Ltd is primarily engaged in the business manufacturing of Kraft papers varying from 100 GSM to 400 GSM. 

Nila Spaces: A solid price volume break-out was seen at the counter today as the stock zoomed more than 15% to make an intra-day high of Rs 4.90 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. The scrip closed 3.53% up at Rs 4.40 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. 

Shah Metacorp: Exhibiting a robust breakout in both price and volume, the stock surged 18%, to trade at an intraday high of Rs 3.9 per share on the NSE. This remarkable price surge was accompanied by a notable increase in trading volume. Shah Metacorp is engaged in the business of manufacturing stainless steel and mild steel long products from scrap. 

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