During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.98% and the Nifty-50 Index down 0.76%. At the same time, the Nifty Mid-cap Index decreased 0.49%, whereas the Nifty Small-cap Index, finished the session down 0.35%.
Nifty Pharma Index and Nifty Healthcare Index emerged as the winners among the sectors, whereas the Nifty Realty Index and Nifty Information Technology Index encountered loss in the sectoral landscape.
At the individual stock level, Coal India, Apollo Hospitals and Hindalco Industries were the top gainers, while Larsen & Toubro, Maruti Suzuki India and Nestle India were the top losers on the Nifty 50 index.
The following penny stocks are likely to be in focus on Monday, May 06, 2024:
Transwarranty Finance Limited
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 13.85 per share on the NSE. Incorporated in 1994, Transwarranty Finance Ltd is an NBFC engaged in lending and advisory services. TFL has had strong business associations with large corporates and over 500 SME / MSMEs for 25+ years. It deals in trade finance, debt & equity & structured deals. The company has lending focused on niche social impact and Fintech segments with advisory business services for trade finance to investment banking.
IL&FS Investment Managers 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 11.25 on the NSE. Incorporated in 1987, IL&FS Investment Managers Limited is a domestic private equity fund management company that deals in investment banking, asset management and infrastructure financing. The company is a subsidiary of Infrastructure Leasing & Financial Services Limited. The holding company owns 50.42 percent of the company’s equity share capital.
Nila Spaces 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 9.70 per share on the NSE. Incorporated in 2000, Nila Spaces Ltd does the development of real estate comprising residential and commercial projects. NSL is a part of Ahmedabad-based Sambhaav Group which is in the construction and development business.
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.
