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HomeStocksPenny Stocks To Watch Out On Thursday - February 01, 2024

Penny Stocks To Watch Out On Thursday – February 01, 2024

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index up 0.86% and the Nifty-50 Index up 0.95%. While the Nifty Mid-cap Index increased by 1.63%, whereas the Nifty Small-cap Index, finished the session up 2.25%.

On the sectoral front, all the indices were in green with the NSE Healthcare Index, NSE Pharma and NSE Realty Index were the top gainers.

At the individual stock level Eicher Motors, Tata Motors and Sun Pharmaceuticals merged as prominent gainers, while Larsen & Toubro, Titan Company and BPCL registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Thursday, February 01, 2024:

Akshar Spintex 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 5.10 per share on the NSE. Incorporated in 2013, Akshar Spintex Ltd does manufacturing and trading of spun cotton yarn.

Bright Solar 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 9.45 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.

Burnpur Cement 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 7.10 per share on NSE. The stock’s 52-week high is Rs 8.80 and its 52-week low is Rs 3.80. Burnpur Cement Limited sells its entire finished products to Ultratech Cement Limited under an off-take agreement. The company negotiated its commercial terms with Ultratech Cement Limited and renewed the offtake agreement for another 1 year with Ultratech Cement Limited, with improved commercial terms.

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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