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HomeStocksPenny Stocks To Watch Out For Tomorrow- January 16, 2024

Penny Stocks To Watch Out For Tomorrow- January 16, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 1.05% and the Nifty-50 Index up 0.93%. While the Nifty Mid-cap Index increased by 0.68%, whereas the Nifty Small-cap Index, finished the session up 0.42%.

Nifty IT Index and Nifty Oil & Gas Index emerged as winners among the sectors, whereas the Nifty Metals Index and NSE Media Index encountered losses in the sectoral landscape.

At the individual stock level Wipro, ONGC and HCL Technologies emerged as prominent gainers, while Bajaj Finance, Bajaj FinServ and Eicher Motors registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Tuesday, January 16, 2024:

Bhandari Hosiery Exports 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 1.80 per share on NSE. The stock also made a 52-week high is Rs 1.80. The company is a part of the Bhandari group. The company is engaged in design, development, knitting, dyeing, finishing, and garments and provides fashion supplies for retailers and brands worldwide.

Read: India’s Top 5 Textile Giants by Revenue!

FCS Software Solutions 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 & fresh 52-week high of Rs 5.30 per share on the NSE. FCS Software Solutions is an IT company based in Noida established in 1993. It provides services in IT consulting, IT infra management, IT-enabled services, and learning solutions.

GVK Power & Infrastructure 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 13.75 per share on the NSE. GVK Power & Infrastructure Limited is primarily engaged in the business of providing operation and maintenance services, manpower & consultancy services, and incidental services to owners of power plants, airports, and infrastructure companies.

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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