Penny stocks to watch out for tomorrow, 8 September 2023

The benchmark indices wrapped up the day on a positive note, with both Sensex and Nifty recording significant gains of 0.58% and 0.59%, respectively. Additionally, Nifty Midcap witnessed a notable surge of 0.77%, and Nifty Smallcap also closed higher, with a gain of 0.47%. 

Among the standout performers in the market were Nifty Realty, Nifty PSU Bank, and Nifty Media. Conversely, Nifty FMCG, Nifty Pharma, and Nifty Metal experienced declines. Within the Nifty 50, notable gainers included Coal India, L&T, and IndusInd Bank, while Tata Consumer Product, Britannia, and Sun Pharma were among the top decliners. 

The following penny stocks are likely to be in focus on Friday, September 08, 2023:     

GTL Infrastructure- The counter experienced a notable increase in buying interest as the scrip zoomed and got locked at 20% upper circuit, reaching an intraday high of Rs 0.90 per share on NSE. This surge in price was accompanied by a significant rise in trading volume for the scrip. GTL Infrastructure is in the business of providing shared passive telecom infrastructure in India. 

Nila Infrastructures- The stock experienced a substantial surge in its stock price, with the stock zooming more than 13%, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 7.60 per share on the NSE. Nila Infrastructures is involved in the construction of affordable housing projects and the development of various infrastructure. 

GTL– The company witnessed a robust price and volume breakout, resulting in the stock zooming and getting locked at 20% upper circuit, reaching an intraday high of Rs 10.05 per share on the NSE. This price rally was backed by a substantial increase in trading volume. The scrip witnessed some profit booking and closed 17.86% up at Rs 9.90 per share on NSE. GTL is a network services company, offering services and solutions to address the network life cycle requirements of telecom operators, technology providers (OEM’s) and tower companies. 

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.