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Penny Stocks To Watch Out For Tomorrow – November 03, 2023

Indian benchmark indices ended the session significantly higher, propelled by robust performance in the real estate, metals, power, and utilities sectors. The BSE Sensex climbed 0.77% to 64,080 level at the close. The Nifty 50 index surged 0.76% to a level of 19,133. Both the BSE Midcap and BSE Smallcap indices also staged substantial recoveries, concluding the session with gains of 1.20% and 0.97%, respectively.

With 2,322 shares rising on the BSE and 1,328 shares declining, the advance-decline ratio strongly remained in favour of advances.On the Sensex, IndusInd Bank, Tata Motors and Sun Pharmaceutical Industries, were among the top gainers, whereas Tech Mahindra and Bajaj Finance were among the market draggers.

The following penny stocks are likely to be in focus on Friday, November 03, 2023:

Gravity (India) Ltd

The company specializes in the manufacturing and distribution of a wide range of fabrics, including shirting, furnishing, and industrial fabric. Today, its shares surged by over 13%, reaching an intraday high of Rs 4.28 per share on the BSE.

Jayshree Chemicals Ltd

For nearly five decades, the company had been engaged in the Chlor Alkali manufacturing business. However, this business was divested for commercial reasons. The company’s primary operations now encompass wind power generation, import-export trade, and various other miscellaneous activities. Today, shares experienced a notable surge of over 12% due to increased buying interest.

Sibar Auto Parts Ltd

The company specializes in the production and sale of automobile spare parts and has entered into a technical collaboration with an Italian firm to enhance its electroplating technology. Today, its shares hit a 10% upper circuit, temporarily locking at Rs 8.21 per share on the BSE.

Read: Eicher Motors: A Case Study In Leadership

Burnpur Cement Ltd

The company ranks as one of the eastern region’s most distinguished and largest integrated cement companies. The trading volume of shares increased sevenfold, resulting in a gain of over 8%.

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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