On Monday, benchmark indices ended the trading day lower, with the Sensex down 0.83% to 73,502.64 and the Nifty down 0.72% to 22,332.65. The broader market also saw declines, with the Nifty Midcap down 0.39% and the Nifty Smallcap down 1.99%.
Market volatility, indicated by India VIX, rose by 2.46%. Nifty Pharma was the only major sector trading positively, while Nifty Media, Nifty PSU Bank, Nifty Metal, and Nifty Energy were among the top losers. Apollo Hospitals, Nestle India, and SBI Life were top gainers, while Tata Consumer Product, Bajaj Auto, and Power Grid were top losers from the Nifty 50.
Advancing stocks numbered 393, compared to 1888 declining stocks, indicating negative sentiment in the broader market.
The following penny stocks are likely to be in focus on Tuesday, March 12, 2024:
Tarapur Transformers Ltd
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 4.73% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 7.75 per share on the NSE. Incorporated in 1988, Tarapur Transformers Ltd is in the business of manufacturing, repairing, and refurbishing power transformers.
Cerebra Integrated Technologies Limited
The stock underwent a substantial surge in its stock price, zooming by 4.93% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 7.45 on the NSE. Incorporated in 1992, Cerebra Integrated Technologies Ltd is in the business of e-waste recycling, refining and refurbishment, electronic manufacturing services, and IT infrastructure management.
Read: A Detailed Step-by-Step Guide to Investing in Penny Stocks
GTL Limited
The counter experienced a notable increase in buying interest as the scrip zoomed and hit a 5% upper circuit, reaching an intraday high of Rs 11.55 per share on the NSE. Incorporated in 1987, GTL Ltd is in the business of providing telecom network services. It also offers comprehensive solutions to meet the Network Life Cycle needs of Telecom Operators, Technology providers (OEMs), and Tower Companies.
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.
