During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 1.23% and the Nifty-50 Index down 1.53%. At the same time, the Nifty Mid-cap Index decreased by 4.40%, whereas the Nifty Small-cap Index, finished the session down 5.28%.
Nifty Fast Moving Consumer Goods Index emerged as the winner among the sectors, whereas the Nifty Media Index and Nifty Metals Bank Index encountered losses in the sectoral landscape.
At the individual stock level, ITC Ltd, ICICI Bank and Kotak Mahindra Bank were the top gainers, while Power Grid Corporation of India, Coal India and Adani Enterprises were the top losers on the Nifty 50 index.
The following penny stocks are likely to be in focus on Thursday, March 14, 2024:
Balkrishna Paper Mills Limited
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 5% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 37.40 per share on the NSE. Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction and industrial as well as earthmoving, port and mining, ATV, and gardening applications.
Cyber Media (India) 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 24.55 on the NSE. Incorporated in 1982, Cyber Media (India) Ltd is in print media and publishing, digital marketing, content, analytics, management consultancy, etc. The company is the largest speciality media house in South Asia and among India’s top five magazine brands.
Read: A Detailed Step-by-Step Guide to Investing in Penny Stocks
Binani Industries 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 14.10 per share on the NSE. Incorporated in 1962, Binani Industries Ltd (BIL) is the holding company for the Braj Binani Group’s manufacturing businesses in zinc, glass fibre, and downstream composite products. While not directly involved in these sectors itself, BIL generates revenue through royalty income from its subsidiaries for using the Binani brand name and by providing management services to these group 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.
