Indian markets had a great day, hitting all-time highs as both Sensex and Nifty surpassed 71,000 and 21,300, respectively. Nifty’s two-day winning streak was driven by optimism about a potentially more accommodative stance from the US Federal Reserve, setting a positive tone for the near future. Investors were delighted, making it a happy day for Indian markets.
This bullish trend extended to Nifty Midcap and Nifty Smallcap Index, which rose by 2.36% and 2.87% for the week ending on December 15, 2023.
Some low-priced stocks, known as penny stocks, gained significant attention from investors as they hit consecutive upper circuit limits. Let’s take a look at a few:
- Tarini International Ltd (CMP Rs 10.96)
Tarini International Ltd, established in 1999, operates as a turnkey contractor and consultant in the fields of power generation, transmission, distribution, and other EPC (Engineering, Procurement, and Construction) contracts. Over the last six trading sessions, the stock has consistently hit the upper circuit, providing investors with a notable 33.69% return. - Antarctica Limited (CMP Rs 1.10)
Antarctica Limited operates in the printing business and manufactures paper-based packaging and publishing products. The company’s stock has shown strong performance, delivering a 29% return. Notably, it has been in the upper circuit for the past five trading sessions, indicating consistent positive momentum in its stock price. - Sundaram Multi PAP Limited (CMP Rs 3.3)
Sundaram Multi Pap Ltd engaged in school and office stationery, including e-learning, initially focused on paper manufacturing and expanded into related areas. Presently marketing diverse paper products under the Sundaram brand, the stock has recently shown a consistent positive trend, delivering a 10% return over the past three days with continuous upper circuit limits. - India bulls Enterprises Limited (CMP Rs 12.60)
Established in 2019, India Bulls Enterprises specializes in equipment renting, management, maintenance services, and related financing activities. The stock has been consistently hitting the upper circuit for the past two days, resulting in a 7.7% return during this period. - Twenty First Century Management Services Ltd (CMP Rs 29.35)
Twentyfirst Century Management Services Ltd, involved in investments in the capital market and futures & options segment, has witnessed impressive performance. The company’s shares have surged by 61% over the past 25 trading sessions, consistently hitting the upper circuit during this period.
Read: Investing In Penny Stocks: Fact vs. Fiction
It’s crucial to note that despite tempting prices and impressive returns, investors should avoid greed. Only invest an amount you’re willing to lose, ensuring that potential losses won’t negatively impact you mentally or financially.
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.
