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HomeStocksPenny Stocks To Watch On Thursday - May 09, 2024

Penny Stocks To Watch On Thursday – May 09, 2024

During the most recent market session, both the Sensex and Nifty closed on a mixed note, with the Sensex Index down 0.06% and the Nifty-50 Index nil change. At the same time, the Nifty Mid-cap Index increased 0.73%, whereas the Nifty Small-cap Index finished the session up 0.57%.

The Nifty Auto Index and Nifty Metals Index emerged as the winners among the sectors, whereas the Nifty Financial Services Index and Nifty Bank Index encountered loss in the sectoral landscape.

At the individual stock level, BPCL, Tata Motors and Coal India were the top gainers, while Dr Reddy, Asian Paints and HDFC Bank were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, May 09, 2024:

Vinny Overseas Ltd

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 4.60 per share on the NSE. Incorporated in 1992, Vinny Overseas Ltd manufactures & processes textile fabric. The company does the processing of fabrics on a job basis received from its customers, Fabrics are manufactured on a job basis for export & domestic markets.

Sumeet 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 of Rs 2.10 on the NSE. Sumeet Industries Ltd, founded in 1988, manufactures and exports a variety of polyester products including chips, yarns (partially and fully drawn), and textured yarns. Their production facility in Surat boasts a capacity for yarns, fabrics, and carpet yarn, with additional capabilities for waste recycling and power generation. They actively export to several countries and are continuously developing new yarn varieties.

BLB 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 19.85 per share on the NSE. BLB Ltd, established in 1981, is a corporate stockbroking company within the BLB group. They specialize in jobbing and arbitrage, actively buying and selling securities to capitalize on price discrepancies, while also engaging in general trade and investment of shares, securities, and commodities.

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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