Penny Stocks To Watch Out For June 28, 2023

The Sensex and Nifty concluded the day with gains, rising by 0.71% and 0.68% respectively. In the midcap segment, Nifty Midcap closed higher by 0.5%, while in the smallcap segment, Nifty Smallcap registered a gain of 0.6%. Among the sectors, Nifty Financial Services, Nifty Realty, and Nifty Bank emerged as the top gainers, whereas Nifty FMCG faced losses. Nifty Auto, on the other hand, remained relatively unchanged. 

From the Nifty 50, HDFC Life, Apollo Hospitals, and JSW Steel were the top gainers, while Cipla, Britannia and Tata Consumer Products were the top losers. Out of the total listed stocks, approximately 1195 stocks showed advances, while 739 stocks witnessed declines. This indicates a positive sentiment prevailing in the broader market. 

The following penny stocks are likely to be in focus on Wednesday, June 28, 2023:     

Shree Rama Multi-Tech: The stock witnessed a substantial surge of more than 19% as significant buying activity was observed, driving its intraday trading price to reach a high of Rs 12.50 per share on the NSE. This price surge was accompanied by a notable increase in trading volume. Shree Rama Multi-Tech Ltd is a leading packaging solutions provider and has wide customer base in local as well as foreign market. 

Accuracy Shipping: The stock displayed a strong breakout in both price and volume, rallying more than 14%, reaching an intraday high of Rs 11.35 per share on the NSE. This surge in price was accompanied by a significant rise in trading volume. Accuracy Shipping Ltd is involved in providing third party logistics solutions and offers customized and end-to-end logistics solutions and services including transportation distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing and value added services. 

Nila Spaces: A solid price volume break-out was seen at the counter today as the stock zoomed 15% to make an intra-day high of Rs 3.45 per share on NSE. This surge in price was accompanied by a significant upswing in trading volume. The company is involved in the construction as well as the development of infrastructures projects for sale and to provide end to end services in the real estate industry.  

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations.