Small publicly traded companies’ penny stocks are listed on stock exchanges at prices less than INR 30. Since they are not regularly traded stocks, investors’ prospective gains on them are frequently determined by sporadic spikes in market volatility.
1. Reliance Power
- Current Market Price : INR 28.99
- Market Cap : 11,621.10 cr
- Annual Range : 34.45 / 13.80
Why We Picked It
The stock has increased by 106.33% just in the last year, and by 590.24% during the previous five years.its potential to provide sizable gains for investors ready to take on the greater risks associated with penny stocks.
2. Vodafone Idea
- Current Market Price : INR 15.5
- Market Cap : 1,21,435
- Annual Range : 19.18 / 7.15
Why We Picked It
The stock has gained by 25.86% over the last three months and by 136.51% over the last year. These numbers show that, in spite of the inherent volatility, penny stocks have the ability to yield sizable profits for those investors prepared to assume the greater levels of risk.
3.Yes Bank
- Current Market Price : INR 24.06
- Market Cap : 74,219.93
- Annual Range : 32.85 / 15.70
Why We Picked It
Financially, YES Bank has demonstrated steady growth in total income, which in March 2024 reached INR 9,099.60 crore, a notable rise of 10.39% over the prior quarter. The bank’s resilience and potential for recovery are shown by its consistent quarterly income increases and strategic steps to fortify its balance sheet and enhance asset quality.
4.Regent Enterprises
- Current Market Price : INR 4.30
- Market Cap : 14.99
- Annual Range : 7.01 / 2.61
Why We Picked It
The company’s overall income for the quarter that ended in March 2024 was INR 226.80 cr, a strong increase of 25.09% over the previous quarter. While there have been occasional variations, such as a decline in revenue in some quarters, the general pattern indicates a marked rising tendency in recent times.
5. Oricon Enterprises
- Current Market Price : INR 35.25
- Market Cap : 549.67
- Annual Range : 49.30 / 21.45
Why We Picked It
Oricon Enterprises’ total income has fluctuated over the years, yet the company is still expected to increase overall. For the quarter that ended in March 2024, total revenue was INR 42.06 cr, a considerable decrease of 65.41% from the prior quarter. Nonetheless, there was notable expansion in prior quarters, such as December 2023 and March 2023, with gains of 23.61% and 25.12%, respectively.
6. Econo Trade India
- Current Market Price : INR 8.35
- Market Cap : 15.59
- Annual Range : 10.49 / 5.45
Why We Picked It
Econo Trade India has consistently increased its overall revenue in terms of finances. The company reported total income of INR 2.62 crore for the quarter ending in March 2024, up 55.84% from the previous quarter. This comes after a significant growth rate of 19.01% and 18.99% in the previous quarters, September 2023 and June 2023, respectively, and a 5.72% increase in December 2023.
Benefits of Penny Stocks
- high yields with little initial investment
- When the stock rises, one can purchase a large number of shares for a very low price and earn respectable profits. The success of most penny stocks is influenced by news about the industries in which they operate, and there is a good chance that investors may profit greatly from stock rallies.
- Putting money into potential winners or multibaggers
- Stocks that are dead or inert now could become multibaggers tomorrow. An investor may be positioned to invest in stocks with strong growth trajectories if they make an early investment in penny stocks with future potential.
- All are welcome to trade in
- Penny stocks are simple to buy in because of their low price. Penny stocks are ideal for those who want to invest a modest amount of money since they allow them to purchase a large number of shares.
Divya Gautam 
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