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HomeStocksPenny Stocks To Watch On Monday - April 22, 2024

Penny Stocks To Watch On Monday – April 22, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.83% and the Nifty-50 Index up 0.69%. At the same time, the Nifty Mid-cap Index decreased by 0.61%, whereas the Nifty Small-cap Index, finished the session down 0.10%.

Nifty Financial Services Index and Nifty Private Bank emerged as the winners among the sectors, whereas the Nifty Media Index and Nifty Pharma Index encountered loss in the sectoral landscape.

At the individual stock level, Bajaj Finance, Mahindra & Mahindra and HDFC Bank were the top gainers, while Bajaj Auto, Nestle India and HCL Technologies were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, April 22, 2024:

Rollatainers 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 & 52-week high of Rs 2.10 per share on the NSE. Incorporated in 1972, Rollatainers Ltd provides integrated packaging solutions with business in research, manufacturing and marketing of lined and mono cartons and packaging machines.

Shyam Telecom 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 13.10 on the NSE. Incorporated in 1976, Shyam Telecom Ltd trades mobile accessories and home appliances in India. The company provides turnkey IBS solutions viz, optical DAS & RF survey & design, planning, implementation, commissioning, training, warranties and remote monitoring.

Paras Petrofils 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 3.45 per share on the NSE. Incorporated in 1991, Paras Petrofils Ltd was in the manufacturing of nylon and polyester yarn, trading of fabric and commission activity. The company does business of spinners, weavers, manufacturers, ginners, pressers, packers, bafers, liners, cleaners, processors, doublers, combers, knitters, dyers, bleachers, calenderers, sellers, buyers, importers, exporters, mercerizes, distributors, barterers, shippers of industrial fabrics, synthetic yarns, synthetic filament yarn, synthetic fabrics, cotton, wool, silk, rayon, flax, hemp, twine of all kinds of whatsoever descriptions like art, nylon, polyester, acrylic, viscose, polypropylene, terylene linen, canvass and all other kinds of fibrous, materials or substances.

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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