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HomeStocksPenny Stocks To Watch On Friday- April 05, 2024

Penny Stocks To Watch On Friday- April 05, 2024

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 0.36%. At the same time, the Nifty Mid-cap Index increased by 0.45%, whereas the Nifty Small-cap Index, finished the session up 0.01%.

Nifty Information Technology Index and Nifty Bank Index emerged as the winners among the sectors, whereas the Nifty PSU Bank Index and NSE Oil & Gas Index encountered loss in the sectoral landscape.

At the individual stock level, HDFC Bank, Titan Company and Tech Mahindra were the top gainers, while Oil & Natural Gas, Adani Ports and Bharat Petroleum Corporation were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Friday, April 05, 2024:

Aakash Exploration Services Limited

The 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 12.20 per share on the NSE. Incorporated in 2007, Aakash Exploration Services Limited provides services to oil and gas fields. AESL is an ISO 9001 14001 and OHSAS 18001 certified company which provides Oil and Gas Field Exploration Services. The company provides oilfield services at the production stage when the survey of land and drilling processes are completed. For smooth and efficient production, AESL used various equipment such as an air compressor, coil tubing unit, workover rig, SRP unit, etc.

Ankit Metal & Power 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 4.20 on the NSE. Ankit Metal & Power Limited, incorporated in 2002, is engaged in the manufacturing of iron ore pellets, sponge iron, MS billets and re-rolled products with a captive power plant (CPP). The company is one of the significant manufacturers of iron and steel in Eastern India.

Future Lifestyle Fashions 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 2.10 per share on the NSE. The company is the apparel retail venture of the Future group. It was established by combining apparel retail formats and fashion brands that were demerged from Pantaloon Retail India Ltd and Future Ventures India Ltd. The Company is in the business of branding, manufacturing, processing, selling and distributing fashion products and has a portfolio of fashion brands that covers fashion categories including formal men’s wear, casual wear, active or sportswear, women’s ethnic wear, women’s denim wear, women’s casual wear, footwear and accessories.

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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