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HomeStocksPenny Stocks To Watch On Tuesday - May 07, 2024

Penny Stocks To Watch On Tuesday – May 07, 2024

During the most recent market session, both the Sensex and Nifty closed on a mixed note, with the Sensex Index up 0.02% and the Nifty-50 Index down 0.15%. At the same time, the Nifty Mid-cap Index decreased 0.55%, whereas the Nifty Small-cap Index, finished the session down 1.50%.

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

At the individual stock level, Kotak Mahindra Bank, Tata Consultancy Services Ltd and Hindustan Unilever Ltd were the top gainers, while Titan Company and Adani Enterprises were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, May 07, 2024:

Future Consumer Limited

The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 13.85 per share on the NSE. Incorporated in 1996, Future Consumer Ltd is a part of the Future Group and operates as a food company. The company’s line of business includes branding, marketing, sourcing, manufacturing, and distribution of basic foods, ready-to-eat meals, snacks, beverages, dairy, personal hygiene and home care products of private label brands of the Future Group and other brands through Future group formats and outlets across India.

Rattanindia Power 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 9.95 on the NSE. RattanIndia Power Limited is one of India’s largest private power generation company, with an installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. The company was incorporated in the year 2007 as Sophia Power Company Limited, originally as a part of Indiabulls group.

Kavveri Telecom Products 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 18.15 per share on the NSE. Incorporated in 1996, Kavveri Telecom Products Limited is engaged in the design, development and manufacture of Radio Frequency products and antennae for telecom, defence and space applications in India and abroad. The company has a manufacturing unit in Bangalore which can manufacture over 1,00,000 high-quality Antennas & 10,000 RF products per month.

Read:- Bharti Airtel Becomes Fourth Largest Company in India

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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