During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 1.47% and the Nifty-50 Index down 1.54%. While the Nifty Mid-cap Index decreased by 3.22%, whereas the Nifty Small-cap Index, finished the session down 2.87%.
Nifty Healthcare Index and Nifty Pharma Index emerged as the winners among the sectors, whereas the Nifty Media Index and NSE Realty Index encountered losses in the sectoral landscape.
At the individual stock level Cipla, Bharti Airtel and Sun Pharma emerged as prominent gainers, while IndusInd Bank, IndusInd Bank, Coal India and SBI Lifecare registered losses within the Nifty 50 index.
The following penny stocks are likely to be in focus on Wednesday, January 24, 2024:
Vikas Lifecare Limited
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 20% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high & 52-week high of Rs 8 per share on the NSE. Incorporated in 1995, Vikas Lifecare Ltd trades and manufactures polymer, rubber compounds, and additives for plastics, synthetic & natural rubber, infra, agro products, FMCG products, etc.
Gangotri Textiles 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 1.05 on the NSE. Gangotri Textiles Ltd used to deal in cotton waste and presently does the processing of yarn to manufacture finished garments in its vertically integrated textile unit.
Madhucon Projects 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 9.50 per share on NSE. The stock’s 52-week high is Rs 9.95 and its 52-week low is Rs 3.40. Madhucon Projects Ltd does the development and execution of Engineering, Procurement, and Construction (EPC) and Turnkey Projects in multiple sectors such as Transportation, Irrigation, Water Resource Infrastructures, Railways, and development of smart cities and properties in India.
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.