During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.50% and the Nifty-50 Index down 0.42%. At the same time, the Nifty Mid-cap Index increased 1.05%, whereas the Nifty Small-cap Index, finished the session up 0.41%.
Nifty Realty Index and Nifty Oil & Gas Index emerged as the winners among the sectors, whereas the Nifty Information Technology Index and Nifty Bank Index encountered losses in the sectoral landscape.
At the individual stock level, Bajaj Finance, Hindalco Industries and Adani Ports were the top gainers, while Bharti Airtel, Power Grid Corporation and Eicher Motors were the top losers on the Nifty 50 index.
The following penny stocks are likely to be in focus on Wednesday, March 27, 2024:
Ajooni Biotech Limited
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 10% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 6.05 per share on the NSE. Ajooni Biotech Ltd, founded in 2010, is an animal healthcare company that manufactures various cattle feed and supplements to improve livestock yields for dairy farmers. They offer a wide range of products including feed, chips, cakes, and supplements, and are a leading supplier to major companies like IFFCO Kisan and Mother Dairy.
Next Mediaworks Limited
The stock underwent a substantial surge in its stock price, zooming by 5% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 6.0 on the NSE. Incorporated in 1981, Next Mediaworks Ltd. is primarily engaged in the business of FM Radio broadcasting. The Co. through its subsidiary Next Radio Ltd. runs the “Radio One” channel.
Visa Steel 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 19.20 per share on the NSE. Incorporated in 1996, VISA Steel Ltd is operating the ferrochrome plant under a conversion arrangement to continue as a going concern due to the non-availability of funds for working capital and major refurbishment and relining of furnaces. It is taking the support of related parties and operational creditors to continue Plant operations under the conversion arrangement.
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.
