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HomeStocksPenny Stocks To Watch On Thursday - February 22, 2024

Penny Stocks To Watch On Thursday – February 22, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.59% and the Nifty-50 Index down 0.64%. At the same time, the Nifty Mid-cap Index decreased by 1.25%, whereas the Nifty Small-cap Index, finished the session down 1.04%.

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

At the individual stock level, Tata Steel, State Bank of India and IndusInd Bank were the top gainers, while BPCL, NTPC and Coal India were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, February 22, 2024:

Mcnally Bharat Engineering Company 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 5.30 per share on the NSE. Incorporated in 1961, McNally Bharat Engineering Company Ltd is engaged in diversified construction activities, primarily execution of turnkey projects

Zenith Steel Pipes & Industries 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 & fresh 52-week high of Rs 9.60 on the NSE. Incorporated 1960, Zenith Steel Pipes & Industries Ltd does manufacturing and selling of ERW And SAW pipes. The company’s client portfolio includes BHEL, Reliance Industries Ltd, Larsen and Toubro Ltd, IOCL, BPCL,NTPC, GNVFC etc.

Goyal Aluminiums 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 10.70 per share on the NSE. Established in 2017, Goyal Aluminiums Ltd is a leading Indian manufacturer and wholesaler of aluminum products, including coil, sheets, sections, and other parts. They also deal in mining, alumina, and aluminum business, with plans to diversify into minerals, metals, and energy sectors.

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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