Penny Stocks to Watch Out for Tomorrow, June 21, 2023

The Sensex concluded the day with a 0.25% increase, while the Nifty also ended positively, gaining 0.33%. Among the top gainers were Nifty Metal, Nifty Auto, and Nifty IT, whereas Nifty Media and Nifty Pharma faced losses towards the end of the day. 

HDFC Life, Tata Motors, and HCL Tech were among the notable gainers, while Bajaj Finance, Bajaj Finserv, and Sun Pharma experienced losses from the Nifty 50 by the end of the day. Approximately 1,104 stocks demonstrated advancement, compared to 845 stocks that saw a decline, indicating a slightly positive sentiment in the broader market. 

The following penny stocks are likely to be in focus on Wednesday, June 21, 2023:     

Oil Country Tubular-There was substantial buying activity observed in the stock, leading to the stock surging and getting locked at the 20% upper circuit band, to trade at an intraday high of Rs 27.35 per share on NSE. This surge in price was accompanied by a significant increase in trading volume for the stock. Oil Country Tubular Ltd is engaged in the manufacturing of casing, tubing and drill pipe which are used in the drilling and exploration of oil and gas. 

Nila Infrastructures– The counter experienced a notable increase in buying interest as the scrip zoomed 19.44%, reaching an intraday high of Rs 6.45 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. Nila Infrastructures Limited incorporated in 1990, is a flagship unit of the Ahmedabad-based Sambhaav Group and is involved in the construction of affordable housing projects and the development of various infrastructure. 

Blue Chip India – The scrip exhibited a powerful breakout both in terms of price and volume, as it rallied more than 11%, reaching an intraday high of Rs 0.50 per share on NSE. This surge in price was accompanied by a significant increase in trading volume. Blue Chip India Ltd is in the business of providing loans.