Penny Stocks to Watch Out for Tomorrow, June 23, 2023

The domestic stock markets halted their two-day winning streak due to negative global signals and the weekly expiry of F&O contracts. The indices experienced a decline as profit booking was observed across the board, compounded by the hawkish remarks from the US Federal Reserve. 

The Sensex and Nifty indexes both dipped and closed with a 0.45 percent. The Nifty Midcap and Nifty Smallcap indexes experienced significant declines, dropping by 1.06 percent and 0.76 percent respectively. 

In terms of top performers, Nifty Metal and Nifty Media showed gains, while Nifty PSU Bank, Nifty Energy, and Nifty Realty faced losses. Among the constituents of the Nifty 50, Divi’s Laboratories, L&T, and HDFC emerged as top gainers, while Tata Steel, Tata Consumer Product, and Bajaj Finance ended up as top losers. 

The following penny stocks are likely to be in focus on Friday, June 23, 2023:     

Supreme Engineering: The stock witnessed a substantial surge of 7.69% as significant buying activity was observed, driving its intraday trading price to reach a high of Rs 0.70 per share on the NSE. This price surge was accompanied by a notable increase in trading volume. Supreme Engineering Ltd operates in the steel products manufacturing industry. 

RattanIndia Power: The stock displayed a strong breakout in both price and volume, rallying and hitting the upper circuit of 20%, with an intraday high of Rs 4.80 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. 

Antartica: The stock of Antartica witnessed a notable increase in buying interest, causing the share price to soar by 7.69% and reach an intraday high of Rs 0.70 per share on the NSE. This surge in price was accompanied by a significant upswing in trading volume. Antarctica Limited operates in the printing business and is a manufacturer of paper-based packaging and publishing products. 

Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and are not recommendatory.