Penny Stocks to Watch out for Tomorrow, 2 June 2023

The Sensex concluded the day with a decline of 0.3%, closing just below 62,500, while the Nifty ended lower by 0.26%, falling below 18,500. However, the Nifty Midcap showed an upward trend, closing higher by 0.12%, whereas the Nifty Smallcap experienced a significant increase of 0.99%. India VIX witnessed a decline of 2.67% throughout the day.

In terms of sector performance, Nifty Realty, Pharma, and Media emerged as the top gainers, whereas Nifty Bank, Financial Services, and Energy stood out as the top losers by the end of the day. Among individual stocks, Apollo Hospitals, Divi’s Laboratories, and Tata Motors registered significant gains, while Coal India, Kotak Bank, and Bharti Airtel were among the top losers by the end of the day.

The following penny stocks are likely to be in focus on Friday, June 02, 2023:

Vaswani Industries- Heavy buying interest was witnessed in the counter as the scrip surged 13.30%, recording an intraday high of Rs 23 per share on NSE. There was a significant surge in trading volume for the scrip. Vaswani Industries Ltd is in the business of iron and steel, power, real estate and agricultural division.

Silgo Retail Limited- A strong breakout was witnessed in terms of price and volume as it rallied and got locked at 20% upper circuit level, reaching an intraday high of Rs 22.5 per share on NSE. The scrip witnessed massive spurt in volume. Silgo Retail is into manufacturing & trading of silver jewellery and related business.

Kaushalya Infrastructure Development Corporation - The stock saw significant buying activity, resulting in a surge of more than 19.7%, to trade at an intraday high of Rs 5.75 per share on NSE. The scrip witnessed massive spurt in volume. Kaushalya Infrastructure Development Corporation Ltd is engaged in executing construction contracts relating to infrastructure, real estate developments, acquisition, development and sale of land.