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Penny Stocks are stocks of small-cap companies having lower market capitalization and per stock price. Investing in penny stocks with growth potential can give high returns. Let us know some of the rewarding penny stocks in India.
Many companies are listed in the stock market, ranging from reputed companies with high stock prices to small businesses with very small prices per stock. These companies are often new startups or companies with low market capitalization, offering their securities at a lower price index.
People often ask for stocks with a lower price and significant returns. These stocks are often considered high-risk investments but can sometimes yield higher returns. New traders often invest in these stocks for practice and to understand the fundamentals of the stock market. Let us share some limelight on the best penny stocks to buy in India in 2024.
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Table of Contents
What are Penny Stocks?
Penny Stocks are stocks of small companies that are traded at a low price and volume. These stocks are traded on the NSE (National Stock Exchange) and Bombay Stock Exchange (BSE). These stocks consist of startup companies or small businesses with a small market capitalization. The per-stock price of these stocks is low and it is considered best for new traders to practice and know the fundamentals of the stock market.
Penny Stocks to Buy in India: Key Takeaways
- Penny stocks are stocks of small-cap companies in India.
- These stock’s average per-share costs are generally below 10 INR.
- They are high-risk investments.
- Investing in these stocks is good for learning purposes, especially for new traders.
- Penny stocks often die out with time or get delisted from the stock market list resulting in losses.
- However, with proper market research, and analysis investing in penny stocks with growth potential can be fruitful.
Major Points to Keep in Mind While Buying Penny Stocks
Check some of the frequent tips which can be considered while buying penny stocks in India.
- Make sure to conduct proper research about the company’s finances, team, operations and performance.
- Go with stocks having a proven track record of lower Debt-to-equity ratio, revenue growth, profitability and higher market capitalization.
- Assess the company’s growth potential before making an investment.
- Try holding your penny stock for the long term to gain high returns. Short-term investments can have minimum benefits.
- Ensure the liquidity and trading volume of the penny stock are high to facilitate easy buying and selling.
- Diversify your investment portfolio to mitigate risk factors in adverse events.
List of Penny Stocks Below INR 10 in 2024
Check the table below for penny stocks having higher return potential below.
List of Low Price Penny Stocks 2024 | ||
Name of the Company | Stock Price | Name of the Sector |
RattanIndia Power Ltd | ₹8.85 | Utilities |
Intelligent Supply Chain Infrastructure Trust | ₹101.75 | Infrastructure Investment Trusts |
GTL Infrastructure Ltd | ₹1.70 | Communication Services |
Vikas Lifecare Ltd | ₹5.60 | Financial Services |
Sarveshwar Foods Ltd | ₹9.10 | Consumer Defensive |
Rhetan TMT Ltd | ₹9.40 | Steel |
FCS Software Solutions Ltd | ₹4.25 | Technology |
Vikas Ecotech Ltd | ₹4.05 | Consumer Cyclical |
Rajnish Wellness Ltd | ₹7.06 | Consumer Defensive |
Mangalam Industrial Finance Ltd | ₹4.72 | Financial Services |
Reliance Communications Ltd | ₹1.70 | Communication Services |
Sunshine Capital Ltd | ₹3.91 | Financial Services |
Integra Essentia Ltd | ₹4.05 | Consumer Cyclical |
Empower India Ltd | ₹2.65 | Financial Services |
Standard Capital Markets Ltd | ₹1.98 | Financial Services |
Madhav Infra Projects Ltd | ₹9.94 | Real Estate |
Sadbhav Infrastructure Projects Ltd | ₹7.35 | Real Estate |
JCT Ltd | ₹2.85 | Consumer Cyclical |
Housing Development & Infrastructure Ltd | ₹4.80 | Real Estate |
G G Engineering Ltd | ₹2.24 | Industrials |
KBC Global Ltd | ₹2.10 | Real Estate |
Toyam Sports Ltd | ₹3.91 | Financial Services |
Seacoast Shipping Services Ltd | ₹3.86 | Financial Services |
Zee Learn Ltd | ₹6.20 | Technology |
Ducon Infratechnologies Ltd | ₹7.60 | Technology |
Inventure Growth & Securities Ltd | ₹2.25 | Financial Services |
Future Consumer Ltd | ₹0.95 | Consumer Cyclical |
Arshiya Ltd | ₹7.10 | Industrials |
Indian Infotech and Software Ltd | ₹1.45 | Financial Services |
Reliance Home Finance Ltd | ₹3.95 | Financial Services |
Avance Technologies Ltd | ₹0.91 | Technology |
Evexia Lifecare Ltd | ₹2.50 | Basic Materials |
Top 10 Penny Stocks to Buy in India 2024
Many companies offer penny stocks at lower prices. However, investors must think well before investing. Investors must invest only in businesses with good potential for growth in coming years. Let us check some of the best penny stocks to buy in India.
1. Sunshine Capital Ltd
Sunshine Company is an ISO Certified company with the objective of enhancing customer satisfaction through long-term investments such as equity, shares and other related securities.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Sunshine Capital Ltd |
Share Price | INR 3.85 |
Market Capitalization (in Cr) | INR 406.25 |
Net Profit Margin | 22.59 |
5 Year Historical Revenue Growth | 108.50 |
2. Standard Capital Markets Ltd
Standard Capitals is an Indian-based, non-deposit accepting Non-Banking Financial Company (NBFC) engaged in providing value-added services and products to its customers. They are typically involved in non-banking financial activity.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Standard Capital Markets Ltd |
Share Price | INR 1.98 |
Market Capitalization (in Cr) | INR 301.35 |
Net Profit Margin | 19.77 |
5 Year Historical Revenue Growth | 88.19 |
3. Comfort Intech Ltd
Comfort is a company engaged in the business of making Indian Made foreign liquors and alcoholic beverages in India. It also trades in products like water heaters, pumps, fans, home appliances, etc.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Comfort Intech Ltd |
Share Price | INR 10.01 |
Market Capitalization (in Cr) | INR 252 |
Net Profit Margin | 19.77 |
Book Value | 4.16 |
4. Vikas Ecotech Ltd
Vikash Ecotech is an Indian-based company engaged in the business of manufacturing different chemicals. They also manufacture eco-friendly and technologically superior products and additives for the world.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Vikash Ecotech Ltd |
Share Price | INR 10.01 |
Market Capitalization (in Cr) | INR 374.69 |
Stock PE | 86.5 |
Book Value | 2.45 |
5. Globe Textiles
Globe Textiles is an exporter of fabrics and garments in domestic and global markets. They manufacture apparel and textile products. They offer denim, bedsheets, shirting fabrics, yarns, etc in India.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Globe Textiles |
Share Price | INR 4.00 |
Market Capitalization (in Cr) | INR 123.94 |
Net Profit Margin | 1.12 |
Revenue Growth | 10.35 (5 Years) |
6. GG Engineering Ltd
GG Engineering Enterprise manufactures auto parts and manufacturing activities such as shearing, bending, fabrication, welding, assembly and others.
Best Penny Stocks to Buy in 2024 | |
Name of the company | GG Engineering Ltd |
Share Price | INR 1.97 |
Market Capitalization (in Cr) | INR 263.11 |
Net Profit Margin | 7.73 |
Revenue Growth | 37.82 (5 Years) |
7. Rajnandini Metal Ltd
Rajnandini is an Indian-based company registered under the Companies Act 1956. They manufacture high-grade copper continuous casting rods. They use smart and sophisticated technology to produce uniform electrical conductivity rods with maximum efficiency in conducting power.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Rajnandini Metal Ltd |
Share Price | INR 10.90 |
Market Capitalization (in Cr) | INR 337 |
Net Profit Margin | 18.4 |
Book Value | 1.9 |
8. Growington Ventures India Ltd
This company is an exporter and manufacturer of fruits, tours and travel activities in India. They are used for ticketing services such as car booking, hotel booking, etc.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Growington Ventures India Ltd |
Share Price | INR 7.26 |
Market Capitalization (in Cr) | INR 121.06 |
Net Profit Margin | 6.13 |
Revenue Growth | 54.59 (In 5 years) |
9. Indian Infotech and Software Ltd.
It is an Indian Based company Non-Banking Finance Company (NBFC) engaged in providing value-added services and financial activities. They generally provide loans to corporate borrowers in India. This company has a Return on Equity track record of -1.48%.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Indian Infotech and Software Ltd. |
Share Price | INR 1.45 |
Market Capitalization (in Cr) | INR 233 |
Net Profit Margin | 15.48 |
Book Value | 1.87 |
10. Accuracy Shipping Ltd
Accuracy Shipping Ltd provides a range of transportation and logistic services. It manufactures, stores, handles and distributes cargo. It has customers worldwide.
Best Penny Stocks to Buy in 2024 | |
Name of the company | Accuracy Shipping Ltd |
Share Price | INR 9.25 |
Market Capitalization (in Cr) | INR 136 |
Net Profit Margin | 1.54 |
Book Value | 7.30 |
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Best Penny Stocks to Buy FAQs
What are penny stocks?
Penny Stocks are stocks of small companies that are traded at a low price and volume. These stocks are traded on the NSE (National Stock Exchange) and Bombay Stock Exchange (BSE).
Is it good to invest in penny stocks?
Penny stocks are high-risk investments not suitable for regular investors. However, it is a good source of learning marketing operations and exposure to stock markets for new traders.
Should I stay away from Penny Stocks?
Penny stocks are much riskier investments where small-cap companies having very little market capitalization and liquidity raise low-price stocks. You must invest in penny stocks after proper analysis and the potential growth probability of the company.
Which 10Rs penny stock is best?
Some of the best low-value penny stocks are Sunshine Capital Ltd, Global Textiles, FCS Software Solutions, RattanIndia Power Ltd, etc.