Are These Stocks To Buy? 3 Penny Stocks That Are Jumping In Trade

Markets have been trading in a narrow range for the last few days. There is much of sideways movement more than anything else. Analysts believe that the markets are likely to trade in a range for the coming sessions. Here are a few penny stocks that are in action. We do not recommend buying any penny stocks, as most of them lack fundamentals.

TGB Banquets and Hotels

TGB Banquets and Hotels operates under the The Grand Bhagwati" name. The shares were locked at the upper end of the circuit filter with only buyers in the same. The company's stock also hit a 52-week high of Rs 14.22 on the BSE.

TGB Banquets & Hotels Ltd, is listed on the BSE and NSE exchange. There has been no sensitive price information as such from the company to lead to such a sharp increase in the share price.

SREI Infrastructure Finance

Shares in SREI Infra hit the upper end of the circuit filter with gains of 5% in trade on Wednesday. The stock was last trading at Rs 5.16, with only buyers on the counter. At present, the company is under Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016, vide Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench Order dated October 8, 2021. We wish to emphasize once again, we do not recommend buying any penny stocks.

GTL Infra

This stock jumped on Tuesday and Wednesday. Again, the shares were up 8% on the BSE. The company deploys, own and manage telecom towers and communication structures that are shared by the Wireless Telecom Operators. With a portfolio of about 26,000 towers located across all the 22 Telecom Circles in India, GTL Infra has emerged as India's largest independent and neutral Telecom Tower company.

What are penny stocks?

There is no exact definition of penny stocks in India. We would assume that stocks that are traded below Rs 10, could well be defined as penny stocks. Most of these can suddenly get illiquid and there could be no trading as well. We would suggest buying fundamentally sound stocks rather than penny stocks, which are fraught with risks. This is not an investment that an investor should place his money on.

Disclaimer

The above article is for information only and not an advise to buy into penny stocks. The author and Greynium Information Technologies should not be held liable for any losses based on a decision made from the article.