During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.32% and the Nifty-50 Index up 0.42%. While the Nifty Mid-cap Index increased by 0.65%, whereas the Nifty Small-cap Index, finished the session up 0.14%.
Nifty Oil & Gas Index and Nifty Healthcare Index emerged as winners among the sectors, whereas the Nifty Media Index and NSE IT Index encountered losses in the sectoral landscape.
At the individual stock level Hero Motors, Adani Enterprises and NTPC emerged as prominent gainers, while Bajaj Finance, Bajaj FinServ and Infosys registered losses within the Nifty 50 index.
Read: What’s Driving the Share Prices of Bajaj Finance and Finserv?
The following penny stocks are likely to be in focus on Wednesday, December 27, 2023:
Shah Metacorp Ltd
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high & 52-week high of Rs 5.50 per share on the NSE. Incorporated in 1999, Shah Metacorp Ltd manufactures and sells a diverse range of SS products.
Rajnandini Metal Limited
The counter experienced a notable increase in buying interest as the scrip zoomed and hit a 20% upper circuit, reaching an intraday high of Rs 11.55 per share on NSE. The stock’s 52-week high is Rs 27.30 and its 52-week low is Rs 8.10. Rajnandini Metal Ltd is engaged in the business of manufacturing, trading or otherwise dealing in steel, iron, iron alloy, castings, various kinds of chemicals, furnace oils and petroleum products.
Godha Cabcon & Insulation Limited
The stock underwent a substantial surge in its stock price, zooming by 10% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 0.60 per share on the NSE. Incorporated in 2007, GCI manufactures aluminium conductors, which have applications in overhead electricity transmission and distribution lines. Its manufacturing unit is located in Indore.
Know More:
- Investing In Penny Stocks: Fact vs. Fiction
- A Detailed Step-by-Step Guide to Investing in Penny Stocks
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.
