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Penny Stocks To Watch On Friday – April 19, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.62% and the Nifty-50 Index down 0.69%. At the same time, the Nifty Mid-cap Index decreased by 0.49%, whereas the Nifty Small-cap Index, finished the session down 0.28%.

Nifty Media Index emerged as the winner among the sectors, whereas the Nifty Healthcare Index, NSE Oil & Gas Index and NSE MidSmall Healthcare Index encountered loss in the sectoral landscape.

At the individual stock level, Bharti Airtel, Power Grid Corporation of India and Bajaj Auto were the top gainers, while Apollo Hospitals, Nestle India and Titan Company were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Friday, April 19, 2024:

Tamilnadu Telecommunication 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 10.75 per share on the NSE. Incorporated in 1988, Tamil Nadu Tele Communications Limited manufactures optical fiber cables for telecommunications. The company is a three-way joint venture of Telecommunications Consultants India Ltd (TCIL), a Government of India Enterprise under the Ministry of Communications, Tamilnadu Industrial and Development Corporation Limited (TIDCO), a Govt. of Tamilnadu Enterprise, and Fujikura Limited of Japan, a manufacturer of optical fiber products.

Read: A Detailed Step-by-Step Guide to Investing in Penny Stocks

Nila Spaces 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 7.75 on the NSE. Incorporated in 1990, Nila Infrastructures Ltd is involved in the construction and development of infrastructure projects. NIL is a part of the Sambhaav Group. It is in the business of real estate and infrastructural development. Company undertakes projects and provides developmental services. It partakes in urban development in the form of EPC /turnkey projects of affordable housing schemes floated by government authorities and puts its land bank to use by coming up with residential real estate schemes that range from affordable flats to premium apartments. Apart from this, the company holds prime commercial property in Ahmedabad which is leased to corporate spaces.

Vinny Overseas 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 4.25 per share on the NSE. Incorporated in 1992, Vinny Overseas Ltd manufactures & processes textile fabric. The company does the processing of fabrics on a job basis received from its customers, fabrics are manufactured on a job basis for export & domestic markets.

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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