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HomeStocksPenny Stocks To Watch On Monday- January 01, 2024

Penny Stocks To Watch On Monday- January 01, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.23% and the Nifty-50 Index down 0.22%. While the Nifty Mid-cap Index increased by 0.80%, whereas the Nifty Small-cap Index, finished the session up 0.61%.

Nifty Metal Index and Nifty FMCG Index emerged as winners among the sectors, whereas the Nifty PSU Bank Index and NSE IT Index encountered losses in the sectoral landscape.

At the individual stock level Tata Consumer, Tata Motors, and Bajaj Auto emerged as prominent gainers, while ONGC, BCPL, and SBIN registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, January 01, 2024:

Innovative Tyres and Tubes 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 6.75 per share on the NSE. Innovative Tyres & Tubes Limited is an India-based tyre and tube manufacturing company. The company is engaged in manufacturing and marketing tyres.

Read: MRF Strategy: Stock Split & its Implications for Investors

Aksh Optifibre 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 12.10 per share on NSE. The stock’s 52-week high is Rs 13.4 and its 52-week low is Rs 8. Incorporated in 1986, Aksh Optifibre Ltd is into manufacturing and selling optical fibre, optical fibre cable, fibre-reinforced plastic rods, impregnated glass roving reinforcement, and ophthalmic lenses. It also provides E-Governance and FTTH services

Compuage Infocom 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 9 per share on the NSE. Compuage Infocom Ltd. founded in 1987, is engaged in the business of trading in computer parts and peripherals, software, and telecom products.

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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