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HomeStocksPenny Stocks To Watch Out For Tomorrow- January 02, 2024

Penny Stocks To Watch Out For Tomorrow- January 02, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.04% and the Nifty-50 Index up 0.05%. While the Nifty Mid-cap Index increased by 0.63%, whereas the Nifty Small-cap Index, finished the session up 0.54%.

Nifty Media Index and Nifty FMCG Index emerged as winners among the sectors, whereas the Nifty Auto Index and NSE Financial Services Index encountered losses in the sectoral landscape.

At the individual stock level Nestle, Adani Enterprises and Adani Ports emerged as prominent gainers, while Eicher Motors, Bharti Airtel and Mahindra & Mahindra registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, January 02, 2024:

GTL 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 10.65 per share on the NSE. GTL is a telecom infrastructure services company providing services and solutions to address the network life cycle requirements of telecom operators, technology providers (OEMs), and tower companies.

Read: The Indian Telecom Bill Powers Digital Growth

Innovative Tyres and Tubes 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 7.40 per share on the NSE. Innovative Tyres & Tubes Limited is an India-based tyre and tube manufacturing company. The company is engaged in manufacturing and marketing tyres.

Also Read: MRF Strategy: Stock Split & its Implications for Investors

Sarveshwar Foods Limited

The counter experienced a notable increase in buying interest as the scrip zoomed and hit a 10% upper circuit, reaching an intraday high of Rs 5.90 per share on NSE. The stock’s 52-week high is Rs 5.95 and its 52-week low is Rs 2.08. Sarveshwar Foods Limited, incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is a long grain rice with a fine texture.

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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