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HomeStocksPenny Stocks To Watch Out On Thursday - February 08, 2024

Penny Stocks To Watch Out On Thursday – February 08, 2024

During the most recent market session, both the Sensex and Nifty closed on a mixed note, with the Sensex Index down 0.05% and the Nifty-50 Index up 0.01%. While the Nifty Mid-cap Index increased by 0.79%, whereas the Nifty Small-cap Index, finished the session up 0.71%.

Nifty Realty Index and Nifty PSU Bank Index emerged as the winners among the sectors, whereas the Nifty Private Bank Index and NSE Private IT Index encountered losses in the sectoral landscape.

At the individual stock level State Bank of India, HDFC Life and JSW Steel merged as prominent gainers, while Tech Mahindra, Power Grid Corporation of India and Infosys registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, February 08, 2024:

Mittal Life Style 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 & fresh new 52-week high of Rs 2.70 per share on the NSE. The company has one of the ranges of denim fabrics in India with ~200+ regular sorts stocked. It provides different types and quality of denim fabric. The company procures denim fabric primarily from Ahmedabad and sells the same in Mumbai and Ulhasnagar.

MEP Infrastructure Developers 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 and a fresh 52-week high of Rs 18.45 on the NSE. Incorporated in 2002, MEP Infra Developers Ltd is in the business of collection of tolls and construction of roads along with other ancillary activities viz. road repairs and maintenance of flyovers, roads and allied structures.

Inventure Growth & Securities 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 3.15 per share on the NSE. Incorporated in 1995, Inventure Growth & Securities Ltd is in the business of providing stockbroking and related services. IGSL is in the business of broking of shares and other securities, equity/commodity broking, financing, and other related activities.

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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