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HomeStocksPenny Stocks To Watch On Thursday - May 02 , 2024

Penny Stocks To Watch On Thursday – May 02 , 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.25% and the Nifty-50 Index down 0.17%. At the same time, the Nifty Mid-cap Index increased 0.06%, whereas the Nifty Small-cap Index, finished the session up 0.22%.

Nifty Auto Index and Nifty Realty Index emerged as the winners among the sectors, whereas the Nifty Metals Index and Nifty Information Technology Index encountered loss in the sectoral landscape.

At the individual stock level, M&M, Power Grid Corporation and Bajaj Auto were the top gainers, while Tech Mahindra, Tata Steel and HCL Technologies were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, May 02, 2024:

Kavveri Telecom Products 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 15.75 per share on the NSE. Incorporated in 1996, Kavveri Telecom Products Limited is engaged in the design, development and manufacture of radio frequency products and antennae for telecom, defense and space applications in India and abroad.

Gayatri Highways Limited

The stock underwent a substantial surge in Gayatri Highways share price, zooming by 5% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 1.05 on the NSE. Incorporated in 2006, Gayatri Highways Ltd is in the business of construction and investment. The company is a core investment company promoted by Gayatri Projects Ltd, a Hyderabad-based infrastructure company. The company does construction, operations and maintenance of carriageways on a toll and annuity basis, having development agreements with National and State Governments.

Read: Best Infrastructure Companies in India

Alps Industries 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 3.15 per share on the NSE. Alps, a company with a long history of innovation and beautiful design, creates a wide variety of home textile products, from bedding and curtains to throw pillows and tablecloths. Their commitment to sustainability is evident in their use of eco-friendly materials like vegetable dyes and recycled cotton, and their products are sold in leading stores and catalogs around the world.

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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