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HomeStocksPenny Stocks To Watch On Tuesday - March 05, 2024

Penny Stocks To Watch On Tuesday – March 05, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.09% and the Nifty-50 Index up 0.12%. At the same time, the Nifty Mid-cap Index increased by 0.20%, whereas the Nifty Small-cap Index, finished the session down 0.51%.

Nifty Financial Services Index and Nifty Oil & Gas Index emerged as the winners among the sectors, whereas the Nifty Media Index and Nifty IT Index encountered losses in the sectoral landscape.

At the individual stock level, NTPC, Power Grid Corporation and ONCG were the top gainers, while Infosys, Eicher Motors Ltd, JSW Steel Ltd and SBI Life were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, March 05, 2024:

Paras Petrofils 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 & fresh 52-week high of Rs 3.60 per share on the NSE. Paras Petrofils Ltd, incorporated in 1991, was previously involved in manufacturing nylon and polyester yarn, fabric trading, and commission activities.

Read: India’s Top 5 Textile Giants by Revenue!

Viji Finance 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 & fresh 52-week high of Rs 3.30 on the NSE. Viji Finance Ltd, established in 1994, is a non-deposit-taking NBFC registered with the RBI that offers working capital loans primarily to corporates and emphasizes familiarity with borrowers before extending unsecured loans.

Future Enterprises 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 5.50 per share on the NSE. Future Enterprises Ltd, formerly known as Future Retail Ltd, is a part of Future Group that manages the group’s physical retail infrastructure, manufactures and trades clothing, and holds the group’s investments in various subsidiaries and joint ventures across insurance, manufacturing, logistics, and other sectors.

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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