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HomeStocksPenny stocks to watch on Monday - May 27, 2024

Penny stocks to watch on Monday – May 27, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.01% and the Nifty-50 Index down 0.05%. At the same time, the Nifty Mid-cap Index increased 0.01%, whereas the Nifty Small-cap Index finished the session down 0.17%.

Nifty Media Index and NSE Financial Services Index emerged as the winners among the sectors, whereas the Nifty Realty Index and Nifty Healthcare Index encountered a loss in the sectoral landscape.

At the individual stock level, HDFC Bank, Bharti Airtel and BPCL were the top gainers, while Adani Ports, Tech Mahindra and M&M were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, May 27, 2024:

Jaiprakash Power Ventures 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 20.75 on the NSE. Jaiprakash Power Ventures Ltd, established in 1994, is an Indian company involved in several sectors including coal mining, sand mining, cement production, and most importantly, the generation of thermal and hydroelectric power. The company operates three major power plants: the 400 MW Vishnuprayag Hydro-Electric Plant functional since 2006 in Uttarakhand, the 500 MW Jaypee Bina Thermal Power Plant with two units commissioned in 2012 and 2013 respectively, and the 1320 MW Jaypee Nigrie Supercritical Thermal Power Plant consisting of two units operational since 2014 and 2015.

Read: Top 10 Performers in Power Generation & Distribution sector

Hybrid Financial Services 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 of Rs 12.70 per share on the NSE. Incorporated in 1986, Hybrid Financial Services Ltd is in the business of equipment leasing & hire purchase, loan syndication, and merchant banking. The company provides debt recovery advice and consultancy in financial, secretarial, commercial, legal, direct and indirect taxation, other levies, statistical, accountancy and other fields.

Century Extrusions 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 19.60 per share on the NSE. Century Extrusions Ltd, founded in 1988, specializes in manufacturing aluminium extruded products and power transmission and distribution line hardware. Their expertise encompasses a wide variety of aluminium alloys, from soft to high-strength options, covering the entire range from the 1000 series to the 7000 series.

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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