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HomeStocksPenny Stocks To Watch On Friday - February 23, 2024

Penny Stocks To Watch On Friday – February 23, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.74% and the Nifty-50 Index up 0.74%. At the same time, the Nifty Mid-cap Index increased by 1.02%, whereas the Nifty Small-cap Index, finished the session up 1.02%.

Nifty Auto Index and Nifty Information Technology Index emerged as the winners among the sectors, whereas the Nifty Bank Index and Nifty Financial Services Index encountered losses in the sectoral landscape.

At the individual stock level, Coal India, Bajaj Auto and Eicher Motors were the top gainers, while IndusInd Bank, HDFC Bank and Kotak Mahindra Bank were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Friday, February 23, 2024:

Jalan Transolutions (India) 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 6.90 per share on the NSE. Established in 2003, Jalan Transolutions (India) Ltd specializes in multimodal logistics, operating a pan-India network with 25 branches and a fleet of 400+ trucks. They cater primarily to two-wheeler original equipment manufacturers, offering diverse services.

Kridhan Infra 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 & fresh 52-week high of Rs 6.30 on the NSE. Kridhan Infra Ltd, founded in 2006, has evolved from an iron and steel trader to a leading service provider in foundation engineering across India and Southeast Asia. They handle the entire process, from soil investigation to piling, for construction and infrastructure projects.

Read: Best Infrastructure Companies in India

SMVD Poly Pack 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 10.50 per share on the NSE. Founded in 2010, SMVD Poly Pack Ltd is an Indian manufacturer of diverse plastic packaging solutions, including FIBC jumbo bags, PP/HDPE woven sacks for food and construction materials, BOPP bags with printed films, and leno bags for bulk vegetables. Their Kolkata production unit boasts a capacity of 6,000 MTPA, offering options like baffle, circular, and anti-static FIBC bags alongside customizable PP woven sacks and printed BOPP bags.

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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