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HomeStocksPenny stocks to watch on Tuesday - June 04, 2024

Penny stocks to watch on Tuesday – June 04, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 3.39% and the Nifty-50 Index up 3.25%. At the same time, the Nifty Mid-cap Index increased 3.19%, whereas the Nifty Small-cap Index, finished the session up 2.41%.

On the sectoral front, all the indices were trading in green with the NSE PSU Bank Index, NSE Oil & Gas Index and NSE Realty Index being the top gainers.

At the individual stock level, State Bank of India, Adani Ports and NTPC were the top gainers, while Eicher Motors, LTI Mindtree and HCl Technologies were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, June 04, 2024:

Sundaram Multi Pap Limited

The stock underwent a substantial surge in its stock price, zooming by 20% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 3.20 on the NSE.Established in 1985, Sundaram Multi Pap Ltd is a leading manufacturer of school and office stationery under the brand name Sundaram. They’ve expanded into e-learning and offer a wide variety of paper products, selling over 5 lakh books daily through a network of 15,000 dealers and distributors.

Sadbhav Infrastructure Project 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 6.35 per share on the NSE. Incorporated in 2007, Sadbhav Infrastructure Project Ltd deals in Build Operate and Transfer (BOT)/ Annuity Projects and their related. SIPL is a subsidiary of SEL and an asset holding company for road and other Infrastructure BOT projects. It does the development, operation and maintenance of road infrastructure assets.

Read: Best Infrastructure Companies in India

Noida Toll Bridge Company 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 9.65 per share on the NSE. The Noida Toll Bridge Company Ltd, established in 1996, is a special-purpose vehicle created by Infrastructure Leasing and Financial Services Ltd to develop, construct, operate and maintain the Delhi Noida Toll Bridge (DND Flyway) under a Build Own Operate Transfer (BOOT) agreement, with day-to-day operations including the maintenance of the bridge.

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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