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HomeStocksPenny Stocks To Watch On Tuesday - February 20, 2024

Penny Stocks To Watch On Tuesday – February 20, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.39% and the Nifty-50 Index up 0.37%. At the same time, the Nifty Mid-cap Index increased by 0.36%, whereas the Nifty Small-cap Index, finished the session up 0.40%.

Nifty Pharma Index and Nifty Consumer Durables Index emerged as the winners among the sectors, whereas the Nifty Realty Index and Nifty PSU Bank Index encountered losses in the sectoral landscape.

At the individual stock level, Grasim Industries, Bajaj FinServ and Bajaj Auto were the top gainers, while Coal India, Larsen & Toubro and Wipro were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, February 20, 2024:

Oriental Trimex Limited

The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high & fresh 52-week high of Rs 12.90 per share on the NSE. Founded in 1996, Oriental Trimex Ltd is a mining and processing company dealing in marble, granite, and travertine. They boast a vast product portfolio across various colour families, import premium marble from international sources, and distribute it across India.

Tijaria Polypipes Limited

The stock underwent a substantial surge in its stock price, zooming by 10% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 7.25 on the NSE. Founded in 1982, Tijaria Polypipes Ltd. specializes in manufacturing high-quality plastic pipes and sprinkler systems (including HDPE, PVC, MDPE, and LDPE) under the “Tijaria” and “Vikas” brands. Their products cater to diverse sectors like irrigation, telecommunication, industry, infrastructure, and housing.

Unitech 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 16.95 per share on the NSE. Founded in 1971, Unitech Ltd. started as a soil and foundation engineering consultancy but has since diversified into a multifaceted company encompassing real estate, power transmission, and hospitality. Their real estate portfolio boasts commercial complexes, IT parks, residential developments, schools, hotels, malls, and even amusement parks, spanning locations across India like Ambala, Bangalore, Chennai, and Gurgaon.

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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