Penny Stocks Update: JCT, 3i Infotech lock in the upper circuit

The frontline indices are trading at all-time highs with participation seen from the broader market indices as well on Wednesday. BSE SmallCap Index is seen outperforming the frontline indices on Wednesday.  

Penny stock JCT is seen locked in the upper circuit on Wednesday. On Tuesday also JCT was locked in the upper circuit after buying emerged in the counter. The share price of JCT has dropped by more than 30 per cent from its recent highs of Rs 4.18 per share, it made on August 3. The shares of JCT were seen continuously locked in the lower circuit for several sessions after the company reported a negative set of results in the recent quarter.  

3i Infotech is yet another penny stock that is seeing some buying interest in the counter. On Tuesday the shares of 3i Infotech were locked in the lower circuit in the early morning sessions only to witness some buying emerge at the lower levels which pushed the stock price higher leading to a buyer lock in the counter. 3i Infotech will be delisted by the beginning of next month and the shares will be relisted again after few months. Speculators are hoping that the relisting happens at a higher price and hence the demand for the shares of 3i Infotech on Wednesday. The share price of 3i Infotech is down by 30 per cent from its 52-week highs it made for itself in June.  

BSE SmallCap Index is up by 0.89 per cent on Wednesday, on an intraday basis.