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HomeStocks3 Penny stocks to watch on Wednesday - May 15, 2024

3 Penny stocks to watch on Wednesday – May 15, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.45% and the Nifty-50 Index up 0.51%. At the same time, the Nifty Mid-cap Index increased 0.98%, whereas the Nifty Small-cap Index, finished the session up 2.03%.

Nifty Metals Index and NSE Auto emerged as the winners among the sectors, whereas the Nifty Pharma Index and Nifty Fast Moving Consumer Goods Index encountered loss in the sectoral landscape.

At the individual stock level, Adani Enterprises, M&M and Larsen & Toubro were the top gainers, while Tata Consultancy Services, Cipla and Nestle India were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Wednesday, May 15, 2024:

Salasar Techno Engineering 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 16.10 on the NSE. Established in 2006 as a tower manufacturer, Salasar Engineering Limited has emerged as a fast-growing steel structure manufacturer & EPC infrastructure company, providing services across the telecom, energy and railway sector. The company provides 360-degree solutions through engineering, designing, fabrication, galvanisation, and deployment services for the telecom and solar sectors.

Read: H.G. Infra Engineering Limited wins Rs 709 crore railway project in Bihar

GVK Power & Infrastructure 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 10.55 per share on the NSE. GVK Power & Infrastructure Limited is primarily engaged in the business of providing operation and maintenance services, manpower & consultancy services, and incidental services to owners of power plants, airports, and infrastructure companies.

B.A.G Films And Media 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 8.45 per share on the NSE. Incorporated in 1993, B.A.G. Films and Media Ltd is in the business of content production, distribution and allied activities. BAGFML produces programmes for all genres. It creates a wide range from movies, daily soaps, drama and comedy to OTT for different age groups, formats, media and news and non-news platforms.

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.
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