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Penny Stocks To Watch On Monday – November 06, 2023

Indian frontline indices extended the gains and ended the session significantly higher amidst upbeat global sentiments. Investor optimism was evident on sectoral front as well with all sectoral indices trading higher. The BSE Sensex surged 0.44% to 64,363 level at the close. The Nifty 50 index gained 0.51% to a level of 19,230.

With 2,294 shares rising on the BSE and 1,394 shares declining, the advance-decline ratio strongly remained in favour of advances. On the Sensex, Titan, JSW Steel and Tata Motors were among the top gainers, whereas Bajaj Finserv, IndusInd Bank and Tata Steel were among the market draggers.

The following 4 penny stocks are likely to be in focus on November 06, 2023:

1. Shyam Telecom Ltd 

The company provides innovative indoor and outdoor wireless signal coverage solutions to over 100 networks across five continents. The company’s shares ended the session with a remarkable gain of over 9%, hitting an intraday high of Rs 7.84 per share on the BSE.

2. OTCO International Ltd

The company specializes in providing IT solutions and services, offering expertise in financial consulting, management consulting, and delivering enterprise solutions tailored for both the micro-finance and financial sectors. The company’s shares witnessed a remarkable 8% surge today and are presently trading at Rs 5.55 per share, with a 52-week high of Rs 6.95 on the BSE.

3. Innocorp Ltd

The company specializes in manufacturing injection-molded plastic products for household, kitchenware, and industrial applications. It also serves as a contract manufacturer for Tupperware. Shares of the company closed the trading session with a considerable gain of over 6%.

4. SVS Ventures Ltd

The company is focused primarily on the construction and development of residential and commercial projects. Shares of the company experienced a notable 6% rally today and are currently trading at Rs 7.70 per share, with a 52-week high of Rs 23.65 on the BSE.

Read: Investing In Penny Stocks: Fact vs. Fiction

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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