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HomeStocksPenny Stocks To Watch On Wednesday - March 06, 2024

Penny Stocks To Watch On Wednesday – March 06, 2024

During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.26% and the Nifty-50 Index down 0.22%. At the same time, the Nifty Mid-cap Index increased by 0.27%, whereas the Nifty Small-cap Index, finished the session down 1.24%.

Nifty PSU Bank Services Index and Nifty Auto 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, Tata Motors, Bharti Airtel and Bajaj Auto were the top gainers, while Bajaj FinServ, Bajaj Finance and Nestle India were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Wednesday, March 06, 2024:

Reliance Home Finance 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 3.20 per share on the NSE. Incorporated in 2008, Reliance Home Finance Ltd is a housing finance company promoted by Reliance Capital Limited, a part of the ADAG group, and is engaged in mortgage-based lending operations.

Integra Essentia 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 3.95 on the NSE. Incorporated in 2007, Integra Essentia Ltd is in the business of Life Essentials viz., food (agro products), clothing (textiles and garments), infrastructure (materials and services for construction and infrastructure development), and energy (materials, products and services for renewable energy equipment and projects).

Tarapur Transformers 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 6.75 per share on the NSE. Tarapur Transformers Ltd, established in 1988, is a power engineering solutions company that manufactures, repairs, and refurbishes power transformers, distribution transformers, and instrument transformers, catering to a wide range of industries with products up to 200 MVA.

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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