Investing in penny stocks in India can be thrilling yet risky. These affordable stocks can bring big gains but also carry more danger. To find the top penny stocks, you must do your homework, analyze carefully, and know the market well. This guide delves into the 15 Best Penny Stocks to Buy in India for 2024, giving you a complete picture, investment tactics, risk control methods, and tax considerations to guide your choices wisely.
Penny stocks, also called micro-cap stocks, are shares of small companies with a low market value, often trading at low prices, sometimes below ₹ 20 or even just a few rupees. These companies are usually in their early growth stages, working in emerging industries or specialized markets. Penny stocks are known for their high risk and potential for big gains. They're volatile, not easily traded, and speculative, which appeals to investors who can handle risk and want high returns. They're marked by high volatility, quick price changes, low cost, accessibility to investors with limited funds, limited information, and lack of regulation, making them less transparent.
Here is the list of the Top Penny Stocks To Buy. Click respectively to know more about them:
| List of 15 Best Penny Stocks ( Buy Today ) | CMP |
|---|---|
| 1. Salasar Techno Engineering Limited | ₹ 22.73 |
| 2. SBC Exports | ₹ 23.01 |
| 3. Jaiprakash Associates Limited | ₹ 19.65 |
| 4. Rama Steel Tubes Ltd | ₹ 14.00 |
| 5. Shriram EPC Limited | ₹ 21.05 |
| 6. Syncom Formulation Limited | ₹ 13.59 |
| 7. Parsvnath Developers Limited | ₹ 15.52 |
| 8. Music Broadcast Limited | ₹ 18.43 |
| 9. Jyoti Structures Limited | ₹ 24.58 |
| 10. Steel Exchange India | ₹ 14.75 |
| 11. Sakuma Exports Ltd | ₹ 27.25 |
| 12. Dish TV India Limited | ₹ 18.93 |
| 13. HCL Infosystems Limited | ₹ 19.77 |
| 14. MIRC Electronics Limited | ₹ 21.62 |
| 15. Hathway Cable and Datacom Limited | ₹ 22.12 |
Here is a complete overview of the Top Penny Stocks To Buy in India and their Volume, Market Cap, and Closing Price.
Salasar Techno Engineering Limited is a top infrastructure solution and structural steel fabrication company in India. They're experts in designing, making, and installing steel structures for different sectors. Salasar is famous for its engineering expertise, superb craftsmanship, and timely project delivery.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 182.22 | 457.91 | 992.86 |
SBC Initially traded handmade carpets, cushion covers, cotton quilts, bedspreads, etc., in Mirzapur (Company's Registered office). Over four years, the company became a well-known brand in Uttar Pradesh.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 88.98 | 1567.07 | 3029.55 |
Jaiprakash Associates Limited (JAL) is an Indian infrastructure company with a wide portfolio, making it one of the Best Penny Stocks To Buy. Engineering and construction, power, cement, real estate, hospitality, motorways, sports, and education are the seven industries in which JAL is involved.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 181.43% | 175.52% | 242.61% |
Rama Steel Tubes Ltd is a certified organisation that manufactures, supplies, exports steel pipes, tubes, fittings, and Rigid PVC & GI Pipes in India.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 44.35% | 1401.07% | 809.78% |
Shriram EPC Limited is a prominent engineering, procurement, and construction firm that offers comprehensive infrastructure development solutions. Known for its innovation and commitment to quality, Shriram EPC specializes in providing turnkey solutions across diverse industries such as industrial infrastructure, renewable energy, and water management.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 88.27 | 423.07 | 155.59 |
Syncom Formulations Ltd. operates in the pharmaceutical industry and specialises in producing various goods in different dosage forms. These goods are sold in many different nations throughout the world.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 111.89 | 331.68 | 1141.07 |
Parsvnath Developers Limited is a well-known Indian real estate developer recognized for its expertise in constructing integrated townships, apartment buildings, commercial spaces, and other real estate projects.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 115.17 | 70.17 | 132.29 |
Music Broadcast Limited is One of India's top radio broadcasting firms operating under Radio City. Music Broadcast Limited, which is present in several locations around the country, provides a wide variety of radio stations that appeal to all tastes.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 55.98 | - | - |
Jyoti Structures Limited is one of the best Penny Stocks to buy. It is a renowned engineering, procurement, and construction firm that specialises in the planning, building, and upkeep of transmission lines and substations.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 287.10 | 293.44 | 910.42 |
Steel Exchange India trades in various steel products, including structural steel, long products, special steels, semis, raw materials, and M.S. binding gauge wires. They also produce steel ingots.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 5.87% | 120.90% | 813.31% |
Sakuma Exports Ltd trades commodities and merchandise from India. The company exports various commodities such as red split lentils, onions, peanuts, peanuts in shells, brass items.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 142.56% | 448.59% | - |
Dish TV India Limited is among India's biggest direct-to-home (DTH) television service providers, offering various digital entertainment channels and services. Their emphasis is on delivering top-notch content and utilizing superior technology.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 18.83 | 84.41 | - |
HCL Infosystems Limited is India's leading information technology and hardware solutions provider, offering a comprehensive range of products and services to meet the diverse needs of businesses.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 48.72 | 110.91 | - |
MIRC Electronics Limited is a well-known consumer electronics company recognized for its flagship brand, Onida. They specialize in manufacturing a broad range of home appliances and electronic products.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 66.94 | 50.95 | - |
Hathway Cable and Datacom Limited is one of India's leading cable television and broadband service providers, offering high-speed internet, digital TV services, and value-added services to residential.
Returns:
| 1Y Return (%) | 3Y Returnax (%) | 5Y Return (%) |
|---|---|---|
| 59.81 | - | - |
Here are some of the Top Penny Stocks to Buy in India long-term. These companies show potential for growth over the long run, but it's essential to conduct thorough research and consider the risks before investing.
| Top Penny Stocks to Buy ( long-term ) | 5Y Return (%) |
|---|---|
| 1. SBC Exports | 3029.55 |
| 2. Syncom Formulation Limited | 1141.07 |
| 3. Salasar Techno Engineering Limited | 992.86 |
| 4. Jyoti Structures Limited | 910.56 |
| 5. Steel Exchange India | 813.31% |
The performance of penny stocks can vary significantly from month to month, influenced by market sentiment, company-specific news, and macroeconomic factors. Here are some of the multi-bagger penny stocks to consider buying in May 2024:
| Multibagger Penny Stocks | 1Y Return (%) |
|---|---|
| 1. Jyoti Structures Limited | 287.10 |
| 2. Salasar Techno Engineering Limited | 182.22 |
| 3. Jaiprakash Associates Limited | 181.43% |
| 4. Sakuma Exports Ltd | 142.56% |
| 5. Parsvnath Developers Limited | 115.17 |
Before diving into penny stocks, it's essential to do your homework and evaluate the risks. These are key factors to consider before investing in penny stocks:
There are 3 types of Penny Stocks to buy in India: Turnaround Stocks, Speculative Stocks, and Growth Stocks.
In addition to these primary categories, penny stocks may include biotech, mining, technology, and natural resources sectors, each with a unique risk-return profile. By diversifying across different types of penny stocks and conducting thorough due diligence, investors can build a well-rounded portfolio that balances risk.
a. Value Investing: Identify undervalued penny stocks with strong fundamentals and long-term growth potential. Conduct thorough fundamental analysis to uncover hidden gems trading at a discount to their intrinsic value, employing a value investing approach.
b. Growth Investing: Seek out penny stocks with significant growth opportunities, focusing on companies with disruptive technologies, expanding market presence, and robust revenue growth. Emphasise long-term potential over short-term fluctuations.
c. Speculative Trading: Capitalise on short-term price movements in penny stocks using technical analysis and market sentiment. Leverage short-term events such as news announcements or earnings reports, but exercise caution due to higher volatility and risks associated with speculative trading
Investing in penny stocks offers several compelling reasons that attract both seasoned investors and newcomers to the stock market.
We have selected some of the Best Penny Stocks to consider investing in 2024. However, remember they are inherently risky and require thorough research before investing. This list is a starting point to help you with your research, not financial advice.
By following these guidelines and leveraging our curated list of Multibagger Penny Stocks for April 2024 as a starting point, you can potentially enhance your chances of success in this high-risk, high-reward investment sector.
While penny stocks carry higher risks, they also offer several advantages for investors willing to take the plunge:
To help you get started, we've analyzed the market and compiled a list of some of the Best Penny Stocks for you to consider in 2024.
Investing in penny stocks requires careful research, due diligence, and risk management. Here's a step-by-step guide to investing in it:
1. Open a Demat account with a reputed stockbroker like lakshmishree, who supports penny stocks
2. Conduct in-depth research before purchasing the best penny stocks in 2024.
3. Select one penny stock that seems promising and buy it.
4. Use buy orders to carry out the penny stock acquisitions you have in mind.
While they offer the potential for high returns, they also come with higher risks and challenges:
While they carry inherent risks, we've compiled a list of some Best Penny Stocks trading at low prices that could offer high returns. This is not a recommendation to buy any specific stock, and we strongly encourage you to conduct thorough research before investing in any penny stock.
Investing in these stocks can be exciting and lucrative, but it demands discipline, risk management, and diligent research. By understanding the opportunities and risks associated with the Best Penny Stocks To Buy in India 2024 and adhering to the guidelines outlined in this article, investors can potentially achieve their financial goals.
The best penny stock To Buy Today depends on individual investment objectives, risk tolerance, and market conditions. Conduct thorough research and analysis before making investment decisions. However, you can also check the List of 15 Top Penny Stocks To Buy Today.
Investing in penny stocks can be risky because:
1. They can change prices a lot and very quickly.
2. Sometimes, buying or selling them is hard because not many people are trading them.
3. Penny stocks might not have clear information, so it's hard to know if they are worth investing in.
4. Some people might try to trick others by changing the price of penny stocks.
Investing in penny stocks can offer investors explosive growth potential. Many reputable companies trade penny stocks, boasting innovative products and competent management teams. While not every penny stock experiences dramatic price fluctuations, some can yield substantial gains rapidly. However, investing in these stocks necessitates thorough research, an evaluation of risk tolerance, and a clear understanding of personal investing goals.
Disclaimer: The information presented here is for educational purposes only and should not be considered a recommendation to buy any specific stock.
