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HomeStocksPenny Stocks To Watch Out For Tomorrow - January 18, 2024

Penny Stocks To Watch Out For Tomorrow – January 18, 2024

In today’s market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 2.23% and the Nifty-50 Index down 2.09%. While the Nifty Mid-cap Index decreased by 1.08%, whereas the Nifty Small-cap Index, finished the session down 1.20%.

Nifty IT Index emerged as the winner among the sectors, whereas the Nifty Bank Index and NSE Financial Services Index encountered losses in the sectoral landscape.

At the individual stock level Apollo Hospital, HCL Technologies, and Tech Mahindra emerged as prominent gainers, while HDFC Bank, Tata Steel, and Kotak Mahindra Bank registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, January 18, 2024:

Bright Solar 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 7.35 per share on the NSE. Incorporated in 2010, Bright Solar Ltd is into assembling DC/AC solar pumps and solar pump systems, EPC contracts of solar photo voltaic water pumps, consulting of projects and tenders, water supply and sewerage infra project.

Madhucon Projects 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 & fresh 52-week high of Rs 9.90 per share on the NSE. Madhucon Projects Ltd. engages in the provision of infrastructure and construction services. The firm operates through the following business segments: Construction, Power, and Toll Collection. Its project portfolio includes transportation, irrigation and water resources, buildings and property development, mining, energy, and other infrastructure project.

Sanco Industries 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 8.50 per share on NSE. The stock’s 52-week high is Rs 10.35 and its 52-week low is Rs 5.20. Sanco Industries Ltd. engages in the production of conduit pipes, wires, and cables. Its products include polyvinyl chloride castings and capping, polypropylene random copolymer plumbing pipes, insulated copper wire rods, LED lights, calcium carbonate, and PVC resin and insulation tapes.

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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