Penny stocks to watch out for on Monday , 11 December 2023

During the most recent market session, both the Sensex and Nifty closed on a positive note, with the Sensex Index gaining 0.44% and the Nifty-50 Index gaining 0.33%. Additionally, the Nifty Mid-cap Index experienced a modest decrease of 0.21%, whereas the Nifty Small-cap Index, finished the session down by 1%.

Nifty Consumer Durables Index and Nifty Auto Index emerged as winners among the sectors, whereas Nifty FMCG Index and Nifty Metals Index encountered losses in the sectoral landscape.

At the individual stock level HCL Technologies, JSW Steel and Infosys emerged as prominent gainers, while Adani Enterprises, Adani Ports and ITC registered losses within the Nifty 50 index.

The following penny stocks are likely to be in focus on Monday, December 11, 2023:

Aakash Exploration Services

The stock underwent a substantial surge in its stock price, zooming and getting locked at a 20% upper circuit level, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 10.65 per share on the NSE. Aakash Exploration Services Limited provides services to oil and gas fields. In recent trading sessions, the stock has been hitting back-to-back upper circuits. The stock gained over 80 per cent in 5 days.

Mirc Electronics Limited 

The counter experienced a notable increase in buying interest as the scrip zoomed and got locked at a 5% upper circuit, reaching an intraday high of Rs 19.75 per share on NSE. The stock’s 52-week high is Rs 24.75 and its 52-week low is Rs 11. The company’s goal was to manufacture television sets which transformed into a complete consumer durable company with a wide product portfolio.

Mcnally Bharat Engineering Company Limited

The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at 5% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high & 52-week high of Rs 5.50 per share on the NSE. McNally Bharat Engineering Company Ltd is engaged in diversified construction activities, primarily execution of Turnkey Projects.

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.