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HomeStocksPenny stocks to watch on Tuesday - May 28, 2024

Penny stocks to watch on Tuesday – May 28, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.03% and the Nifty-50 Index down 0.11%. At the same time, the Nifty Mid-cap Index increased 0.64%, whereas the Nifty Small-cap Index, finished the session up 0.81%.

Nifty PSU Bank Index and NSE Realty Index emerged as the winners among the sectors, whereas the Nifty Media Index and Nifty Metals Index encountered a loss in the sectoral landscape.

At the individual stock level, Divi’s Laboratories, IndusInd Bank and Axis Bank were the top gainers, while Adani Enterprises, Wipro and Grasim Industries were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, May 28, 2024:

Shah Metacorp 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 4.15 on the NSE. Shah Metacorp Ltd, founded in 1999, is a manufacturer, exporter, and supplier of various stainless steel (SS) and mild steel products. Their SS product range includes bars (bright, flat, equal angle), ingots, and flats (pata) used in diverse applications like architecture, bridges, auto parts, and machined components. They also produce mild steel angle bars used in construction projects like transmission line towers, telecom towers, windmills, and railways.

Inventure Growth & Securities Limited

The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 10% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 2.45 per share on the NSE. Incorporated in 1995, Inventure Growth & Securities Ltd is in the business of providing stockbroking and related services. IGSL is in the business of broking shares and other securities, equity/commodity broking, financing and other related activities. It operates through 224 business locations including branches, franchisees and sub-brokers located across India.

Atal Realtech 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 8.40 per share on the NSE. Incorporated in 2012, Atal Realtech Limited is in the business of civil construction and government contracting. The company provides integrated contracting and sub-contracting services for civil and industrial construction, engineering and complete infrastructure project management. The Company is a registered contractor with the Government of Maharashtra Public Works Department in Class I-A and provides services for governmental projects such as water supply and drainage projects, road and bridge projects, major and minor irrigation projects and civil construction projects.

Read: A Detailed Step-by-Step Guide to Investing in Penny Stocks

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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