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Penny Stocks To Watch Out For Tomorrow – January 12, 2024

In today’s trading session, both the Sensex and Nifty closed on a positive note, with the Sensex up by 0.09% and the Nifty50 up by 0.13%. The Nifty Mid-Cap Index concluded the session up by 0.27%, and the Nifty Small-cap Index finished the session up by 0.58% compared to the previous day’s closing levels.

The Nifty Oil and Gas Index and Nifty Auto Index emerged as winners among the sectors, whereas the Nifty Media Index and Nifty IT Index concluded the session in the red in the sectoral landscape.

At the individual stock level, Hero MotoCorp Limited, Bajaj Auto, and Reliance emerged as prominent gainers, while Hindustan Unilever, Dr Reddy, and SBI Life Insurance registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Friday, January 12, 2024:

Future Market Networks Limited

The stock underwent a substantial surge in its stock price, zooming by 9.4% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 8.15 per share on the NSE. The company, as a part of Future Group, works towards building capacity and organizing modern wholesale trade, retail, and logistics infrastructure in India. It aims to amend the wholesale infrastructure, improve the supply chain, and clear logistics bottlenecks to bridge the gap between demand and supply

Visagar Polytex Limited

The counter experienced a notable increase in buying interest as the scrip zoomed by 8.33%, reaching an intraday high of Rs 1.95 per share on NSE. The stock also made a 52-week high is Rs 1.95. Visagar Polytex Ltd is in the business of manufacturing and selling textiles and readymade fabrics. The company is engaged in textile manufacturing, trading, wholesaling, and retailing activities, comprising independent and interdependent verticals, namely ethnic wear, garment manufacturing, interlining goods, and contract-based manufacturing.

Prakash Steelage 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 14.75 per share on the NSE. Prakash Steelage Limited is a manufacturer and exporter of stainless steel welded pipes and tubes. The company is a part of the Prakash Group. It commenced its business by trading stainless steel sheets, coils, plates, and scrap. Currently, the company is involved in the manufacturing of stainless steel (seamless and welded) pipes and tubes. Additionally, it engages in the trade of stainless steel sheets and coils, among other activities, in its Silvassa Division.

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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