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Penny Stocks To Watch On The Muhurat Trading Day – November 12, 2023

Despite starting the trading session on a lower note, the Indian headline indices concluded significantly higher, primarily propelled by substantial gains in the utilities, power, and metal sectors. The BSE Sensex gained 0.11% to 64,904 level at the close. The Nifty 50 index surged 0.15% to a level of 19,425.

With 1,926 shares rising on the BSE and 1,764 shares declining, the advance-decline ratio remained in favour of advances. On the Sensex, NTPC Ltd, Tech Mahindra and UltraTech Cement Company were among the top gainers, whereas Mahindra & Mahindra, HCL Technologies and Titan were among the market draggers.

The following penny stocks are likely to be in focus on Sunday, November 12, 2023:

Smart Finsec Ltd

The non-banking finance company, specializing in small loans and investments in stocks, securities, and bonds, witnessed a stellar 17-fold surge in trading volume. Shares continued the momentum from the last session’s rally, soaring over 17% to reach a 52-week high of Rs 9.98 on the BSE.

Kay Power & Paper Ltd

Incorporated in 1991, Kay Power and Paper Limited is engaged in the manufacturing of kraft paper and power generation. The company’s shares experienced a notable increase in buying interest, climbing by over 8% to reach Rs 9 per share on the BSE.

Read: Top Paper Stocks in India

Regent Enterprises Ltd

The company offers high-quality edible oil and allied products, supported by modern packaging and distribution units, along with collaborations with suppliers/farmers in India and abroad. Shares surged by approximately 13%, reaching an intraday high of Rs 3.50 per share on the BSE.

Facor Alloys Ltd

The company was established as part of a restructuring scheme approved for Ferro Alloys Corporation Ltd (FACOR). It holds ISO certification and operates as a producer and exporter of ferro alloys, essential in the manufacturing of steel and stainless steel. Shares experienced a significant surge of over 11% today and are currently trading at Rs 9.05, approaching their 52-week high of Rs 10.90 per share on the BSE.

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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