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HomeStocksPenny Stocks To Watch On Monday – March 18, 2024

Penny Stocks To Watch On Monday – March 18, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.62% and the Nifty-50 Index down 0.56%. At the same time, the Nifty Mid-cap Index decreased by 0.46%, whereas the Nifty Small-cap Index, finished the session up 0.39%.

Nifty Metals Index and Nifty FMCG Index emerged as the winners among the sectors, whereas the Nifty Oil & Gas Index and Nifty Auto Index encountered losses in the sectoral landscape.

At the individual stock level, UPL, Bharti Airtel and HDFC Life Insurance were the top gainers, while Axis Bank, IndusInd Bank and Bajaj Finance were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, March 18, 2024:     

Ind-Swift 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 17.90 per share on the NSE. Established in 1986, Ind-Swift Ltd. is a leading pharmaceutical manufacturer and exporter based in Chandigarh, India. The company boasts expertise in finished goods dosage, Active Pharmaceutical Ingredients (APIs), and herbal products.  

Read: A Detailed Step-by-Step Guide to Investing in Penny Stocks

M K Proteins 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 on the NSE. The company manufactures vegetable refined oils and has a retail brand Gloh. It does refine and production of crude oils to obtain refined rice bran oil, canola oil, soya soybean oil, sunflower oil and rice bran bleached oil. During the refining process, certain by-products are also manufactured viz. rice bran fatty acid oil, rice bran wax, gums and spent earth which are also saleable. Further, it also imports crude oils, process them and sells the finished product. It also trades in edible and non-edible oils.

Nagarjuna Fertilizers and Chemicals 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 10.25 per share on the NSE. Nagarjuna Fertilizers & Chemicals Ltd is principally engaged in the business of manufacturing and marketing fertilisers, micro irrigation equipment and agri-informatic services.

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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