During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.47% and the Nifty-50 Index up 0.49%. At the same time, the Nifty Mid-cap Index increased by 0.97%, whereas the Nifty Small-cap Index, finished the session up 0.73%.
Nifty Media Index and Nifty PSU Bank Index emerged as the winners among the sectors, whereas the Nifty Pharma Index and NSE Auto Index encountered loss in the sectoral landscape.
At the individual stock level, Coal India, BPCL and Kotak Mahindra Bank were the top gainers, while HDFC Life Insurance, Maruti Suzuki India and Cipla were the top losers on the Nifty 50 index.
The following penny stocks are likely to be in focus on Friday, April 12, 2024:
Burnpur Cement Limited
The Burnpur Cement 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 6.70 per share on the NSE. Incorporated in 1986, Burnpur Cement Ltd is in the business of cement manufacturing. The company sells its entire finished products to Ultratech Cement Limited under an off-take agreement. On 1st December 2021, the company negotiated its commercial terms with Ultratech Cement Limited and renewed the offtake agreement for another 1 year with Ultratech Cement Limited, with improved commercial terms.
Read: Unlocking Cement Stocks in India
Omkar Speciality Chemicals 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 7.55 on the NSE. Incorporated in 1993, Omkar Specialty Chemicals Ltd is engaged in the manufacture and sale of speciality chemicals and pharma intermediates for chemical and allied industries. The company manufactures a range of organic, inorganic and intermediates, comprising 90+ products.
DCM Financial Services 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 5.50 per share on the NSE. Incorporated in 1991, DCM Financial Services Ltd (part of the DCM group) deals in Financing Operations viz., inter-corporate deposits and investments. At present, the company is in the process of restructuring its operations after which it will recommence new business operations.
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.
