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HomeStocksPenny Stocks To Watch On Wednesday - March 13, 2024

Penny Stocks To Watch On Wednesday – March 13, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.22% and the Nifty-50 Index up 0.01%. At the same time, the Nifty Mid-cap Index decreased by 1.13%, whereas the Nifty Small-cap Index, finished the session down 1.98%.

Nifty Information Technology Services Index and Nifty Financial Services 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, HDFC Bank, LTI Mindtree and Tata Consultancy Services were the top gainers, while Adani Enterprises, Grasim Industries and State Bank of India were the top losers on the Nifty 50 index.

The following penny stocks are likely to be in focus on Wednesday, March 13, 2024:

Future Retail 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 2.40 per share on the NSE. Future Retail Limited (FRL), the flagship company of the Future Group (one of India’s largest retailers), is engaged mainly in the retailing of fashion, household and consumer products Kishore Biyani is the founder and Group CEO of Future Group.

Future Lifestyle Fashions 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 2.55 on the NSE. The company is the apparel retail venture of the Future group. It was established by combining apparel retail formats and fashion brands that were demerged from Pantaloon Retail India Ltd and Future Ventures India Ltd.

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

Visagar Polytex 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 1.30 per share on the NSE. Incorporated in 1990, Adroit Infotech Ltd is primarily engaged in the business of SAP Support Services. The company helps organizations to reduce costs and improve effectiveness and efficiency through internal process improvements using SAP products and solutions.

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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