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HomeStocksPenny stocks to watch on Friday - May 17, 2024

Penny stocks to watch on Friday – May 17, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.93% and the Nifty-50 Index up 0.92%. At the same time, the Nifty Mid-cap Index increased 0.88%, whereas the Nifty Small-cap Index, finished the session up 0.84%.

Nifty Information Technology Index and NSE Consumer Durables emerged as the winners among the sectors, whereas the Nifty Auto Index encountered a loss in the sectoral landscape.

At the individual stock level, Mahindra & Mahindra, Tata Consumer Products and Bharti Airtel were the top gainers, while Maruti Suzuki, State Bank of India and BPCL were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Friday, May 17, 2024:

Silly Monks Entertainment 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 17.75 on the NSE. Incorporated in 2013, Silly Monks Entertainment Ltd works in the fields of digital content publishing, content production, content distribution, syndication, marketing, and as a strategic consulting company. Silly Monks is the 1st Entertainment Company in south India covering all four states and has the largest YouTube Multi-Channel Network with a strong footprint in the food community, wellness community, movie production, short films, etc.

LCC Infotech 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 2.10 per share on the NSE. Incorporated in 1985, LCC Infotech Ltd is in the business of a digital network of healthcare and portfolio management services. The company helps in building skilled human capital and enhancing workforce talent on a PAN India basis. It offers training and development solutions for enterprises and individuals and helps graduates improve their employability for jobs in the IT industry.

Globe Textiles (India) 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 3.15 per share on the NSE. Incorporated in 1995, Globe Textiles (India) Ltd is involved in the trading and manufacturing of textile products. The company is a STAR Exporter of Fabrics and garments and has one of its units in SEZ. It sources, manufactures, supplies and trades a complete range of textile and apparel products and services – from fiber to fashion.

Read: India’s Top 5 Textile Giants by Revenue!

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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