Penny stocks to watch out for tomorrow, July 27, 2023

The Sensex and Nifty concluded the session with gains, rising by 0.53% and 0.5% respectively. Nifty Midcap recorded a 0.44% increase, while Nifty Smallcap showed a 0.17% rise. 

Among the top gainers were Nifty Realty, Nifty PSU Bank, and Nifty FMCG, while Nifty Auto and Nifty Financial Services ended the day unchanged. L&T, ITC, and Britannia were among the top gainers in the Nifty 50 index, whereas Bajaj Finance, Bajaj Finserv, and M&M were among the top losers. 

The following penny stocks are likely to be in focus on Thursday, July 27, 2023:     

MSP Steel & Power: MSP Steel & Power Limited witnessed a robust breakout in both price and volume, leading to the stock price surging more than 19% and hitting an intraday high of Rs 12.50 per share on the NSE. This surge in price was supported by a substantial increase in trading volume. MSP Steel & Power Limited is primarily involved in manufacturing and selling iron and steel products, as well as power generation. 

Shah Metacorp: Shah Metacorp observed a substantial spike of over 18% in its stock price, reaching an intraday high of Rs 3.55 per share on the NSE. This remarkable price increase was accompanied by a noticeable rise in trading volume. Shah Metacorp is engaged in the business of manufacturing stainless steel and mild steel long products from scrap.  

Jain Irrigation Systems: Jain Irrigation Systems Ltd experienced a substantial surge in its stock price, leading to a 20% upper circuit lock, indicating a strong breakout in both price and volume. The stock reached an impressive intraday high of Rs 26.85 per share on the NSE, and this notable price surge was supported by a significant rise in trading volume. Jain Irrigation Systems Limited is engaged in providing solutions in agriculture, piping and infrastructure through the manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.