Top 5 penny stocks to watch out for in September 2023

Indian benchmark indices have started September on a positive note, with India’s GDP growing by a one-year high of 7.8%
in the April-June quarter. The Nifty is up by 0.45%, and the Sensex has gained 0.37%. Additionally, broader markets are
performing well, with the Nifty Midcap 100 up by 0.56% and Small-cap stocks up by nearly 1%.

Here are the top five penny stocks to watch out for in September: 

1. Punjab National Bank (PNB): Punjab National Bank merged with the erstwhile United Bank of India (e-UB) and erstwhile Oriental Bank of Commerce (e-OBC) on April 1, 2020, forming the third largest public sector bank and the sixth largest bank in India by net advances as of March 31, 2023. The Government of India holds a majority stake (73.15% as of June 30, 2023). The bank operates a vast network of 10,080 branches and 12,820 ATMs as of June 30, 2023. The stock is currently trading below its book value of Rs 93.4 and shows a breakout pattern called an ascending triangle. Keep an eye on it!
2. Tata Teleservices (Maharashtra) Limited (TTML): TTML is a leading player in the SME
   connectivity and communication solutions market in India under the brand name Tata Tele Business Services (TTBS).
   The stock has formed a series of higher highs and higher lows, and recent price increases have been supported by
   strong volumes, indicating active participation by market participants in the uptrend.
3. Confidence Petroleum: Confidence Petroleum manufactures LPG
   cylinders and supplies Auto LPG across India. The company’s packed LPG cylinder division operates under the ‘Go Gas’
   brand, while it also provides LPG bottling services under the ‘Gaspoint’ brand for companies such as Bharat
   Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited
   (IOCL), and the Reliance group. The stock recently hit a 52-week high of Rs 98.25 and found support around the upper
   end of a significant bullish candle on August 28. Keep an eye on this stock.
4. CESC: CESC, a part of the RP-Sanjiv Goenka
   group, is an integrated power utility involved in the generation, transmission, and distribution of electricity in
   its licensed area, covering Kolkata and Howrah. The stock is technically strong, trading above its short- and
   long-term moving averages, with positive signals from indicators like MACD and RSI.
5. Motherson Sumi Wiring India: Motherson Sumi Wiring India is a joint
   venture with Sumitomo Wiring Systems, Ltd., a global leader in wiring harness manufacturing. The stock recently
   displayed a Bollinger band squeeze setup and witnessed strong price action with solid volumes. Keep a close watch on
   this stock.

Please note that investing in penny stocks carries higher risks, so it’s essential to do thorough research and consider
your risk tolerance before making any investment decisions.