Volatility was the hallmark of Tuesday’s session, as key benchmark indices, after opening in the green, ended down by 0.37% (Sensex) and 0.32% (Nifty). When discussing the broader indices’ performance, Nifty Mid-cap ended the day in the green, rising by 0.37%, while Nifty Small-cap ended with a modest loss of 0.06%.
In the sectoral landscape, Nifty Realty and Nifty Media were the top gainers, registering solid gains, while Nifty Auto and Nifty Pharma were among the sectors that experienced losses.
The overall market sentiment slightly favored bears, as the number of declining stocks was slightly higher compared to advancing stocks on Tuesday.
The following penny stocks are likely to be in focus on Wednesday, November 01, 2023:
North Eastern Carrying Corporation Ltd
The stock witnessed robust price and volume action, resulting in a surge of as much as 17% in just a single trading session. North Eastern Carrying Corporation Ltd provides freight transportation services to bulk and retail customers, primarily in the Full Truckload (FTL) segment, and offers other services such as warehousing and packing.
Pritika Auto Industries
This counter experienced a significant increase in buying interest as the scrip surged and reached a 5% upper circuit, with an intraday high of Rs 22.20 per share on the NSE. Pritika Auto Industries is among the leading manufacturers of machined castings in India. The company manufactures components for tractors and commercial vehicles, with a total consolidated capacity of over 50,000 tons per annum and facilities across Punjab and Himachal Pradesh. They are key suppliers to several long-standing clients/OEMs, including M&M, Swaraj, TAFE, Escorts, SML Isuzu, TMTL, Ashok Leyland, New Holland Tractors India Ltd, and Brakes India Ltd. Pritika specializes in a diverse range of products and exports to clients in the US as well.
The stock underwent a substantial surge in its stock price, reaching the upper circuit level of 5%. The stock registered a fresh 52-week high of Rs 34.95, with bids for more than 1.1 lakh shares at the time of closing on NSE. MBL Infrastructure (MBL) is engaged in the execution of civil engineering infrastructure projects, including Roads & Highways (Construction, BOT, O&M), Building, Housing & Urban Infrastructure, Railways/Metro, and Other Infrastructure.
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 change. Please consult an expert before making related decisions.