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HomeStocksPenny stocks to watch on Monday - June 24, 2024

Penny stocks to watch on Monday – June 24, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.35% and the Nifty-50 Index down 0.28%. At the same time, the Nifty Mid-cap Index decreased 0.08%, whereas the Nifty Small-cap Index finished the session down 0.17%.

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

At the individual stock level, Bharti Airtel, LTI Mindtree and Hindalco Industries were the top gainers, while Ultratech Cement, Adani Enterprises and Larsen & Toubro were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, June 24, 2024:

SVP Global Textiles 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 10.89 on the NSE. SVP Global Textiles Ltd, founded in 1982, is an integrated textile company that manufactures a range of yarns (including compact yarn, open-end yarn, and blended yarn) across facilities in Rajasthan and Tamil Nadu, India. They source their high-tech machinery from leading international companies like Rieter, Electro-jet, LMW, and Schlafhorst. While their core business focuses on textiles, their offerings also extend to gold, diamonds, stones, and fabrics.

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

FCS Software Solutions 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 4.27 per share on the NSE. Established in 1993, FCS Software Solutions Ltd. is an IT company that offers a wide range of IT services, including software development, application development and maintenance, e-learning and digital content management, software testing, infrastructure management, and product development.

Steel Exchange India Limited

The counter experienced a notable increase in buying interest as the scrip zoomed 10%, reaching an intraday high of Rs 14.43 per share on the NSE. Steel Exchange India Ltd (SEIL), founded in 1999, is a multifaceted company encompassing steel manufacturing, sales of related products, and power generation. Originally incorporated as Pyxis Technology Solutions Ltd., SEIL soon transitioned into a steel industry subsidiary. Their entry into steel production came in 2004 through the acquisition of Simhadri Steels.

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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