Penny stocks to watch on Monday, May 27, 2024

On Friday, both benchmark indices ended the trading day on a negative note. The Sensex saw a marginal decline of 0.01 percent, closing at 75,410.39, while the Nifty experienced a slight drop of 0.05 percent, finishing at 22,957.10.

In line with this trend, the broader market also displayed negative performance. The Nifty Mid-Cap closed slightly higher by 0.01 percent, but the Nifty Small-Cap fell by 0.17 percent. Market volatility, as indicated by the India VIX, decreased by 1.92 percent, indicating heightened volatility.

Among the sectors, Nifty Media, Nifty Financial Services, and Nifty Bank closed positively. Conversely, Nifty FMCG, Nifty Realty, and Nifty IT were the major sectors that underperformed.

Market sentiment was predominantly negative, with approximately 1,598 stocks advancing compared to 2,254 stocks declining, indicating a prevailing negative sentiment in the broader market.

The following penny stocks are likely to be in focus on Monday, May 27, 2024:

Jaiprakash Power Venture

Current Price: Rs 20.75 per share on NSE

Performance: The stock surged and hit the 5% upper circuit.

Company Profile: Established in 1994, Jaiprakash Power Venture Limited is involved in coal and sand mining, cement grinding, and the production of thermal and hydroelectric power.

RattanIndia Power

Current Price: Rs 15.10 per share on NSE

Performance: The stock experienced significant buying, reaching the 5% upper circuit.

Company Profile: RattanIndia Power Limited is one of India's largest private power generation companies, with a combined installed capacity of 2,700 MW at its thermal power plants in Amravati and Nashik, Maharashtra.

Hindustan Motors

Current Price: Rs 37.20 per share on NSE

Performance: The stock saw a solid price volume breakout and hit the 10% upper circuit.

Company Profile: Founded in 1948, Hindustan Motors Ltd manufactures and sells vehicles, vehicle spare parts, steel products, and components. The company also trades in vehicle spare parts.

Volume Breakout Penny Stocks Witnessing Heavy Buying:

Penny Stock LTP (Rs) Gain (%)

Hybrid Financial Services 12.70 4.76

Goenka Diamonds and Jewels 0.85 6.25

ARSS Infrastructure Projects 25.50 4.94

Gayatri Projects 7.80 4.70

Disclaimer: This article is for informational purposes only and does not constitute investment advice.