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HomeStocksPenny Stocks To Watch On Thursday - March 07, 2024

Penny Stocks To Watch On Thursday – March 07, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.55% and the Nifty-50 Index up 0.53%. At the same time, the Nifty Mid-cap Index increased by 0.52%, whereas the Nifty Small-cap Index, finished the session down 1.96%.

Nifty Private Bank Services Index and Nifty Healthcare Index emerged as the winners among the sectors, whereas the Nifty Media Index and Nifty Realty Index encountered losses in the sectoral landscape.

At the individual stock level, Bajaj Auto, Kotak Mahindra Bank and Axis Bank were the top gainers, while Adani Enterprises, NTPC and Ultratech Cement were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, March 07, 2024:

Shrenik 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 1.05 per share on the NSE. Shrenik Ltd, a paper trading company established in 2012, operates in Gujarat, Rajasthan, and Maharashtra. They primarily distribute paper products from various companies like Ballarpur Industries and Asia Pulp and Paper but also offer their brands like Shrenik Premium Copier Paper.

Jaiprakash Associates 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 18.65 on the NSE. Jaiprakash Associates Limited is a Noida-based construction company mainly engaged in the business of engineering & construction, manufacturing of cement, power, real estate development, hotel/ hospitality, sports, etc.

Eurotex Industries and Exports Limited 

The counter experienced a notable increase in buying interest as the scrip zoomed and hit a 5% upper circuit, reaching an intraday high & fresh 52-week high of Rs 19.05 per share on the NSE. Established in 1989, Eurotex Industries and Exports Limited is engaged in the manufacturing of cotton yarn & knitted fabric. The company exports to various countries including Japan, U.K., Italy, Germany, Switzerland, South Korea, Taiwan, Mauritius, etc.

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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