Best 20 Penny Stocks to Buy in India-2024

Best 20 Penny Stocks to Buy in India-2024

Best 20 Penny Stocks to Buy in India-2024: In this Article we are explaining about Penny Stocks. Of course! Small publicly traded companies’ penny stocks are listed on stock exchanges at prices less than INR 100. Because of their limited liquidity and erratic swings in the market, they can be highly dangerous. But if you’d like to look into some Indian penny stocks for 2024, here are a few possibilities:

What are The Penny Stocks?

Penny stocks are stocks that often trade for less than 50 rupees at extremely cheap rates. They are largely illiquid and have a modest market capitalization. Lesser known to the general investing public are penny stocks. Because information about their operations and fundamentals is either unavailable or unreliable, investors avoid them. Nonetheless, it is well known that penny stocks can provide multi-bagger returns in a few of trading sessions. Because penny stocks lack liquidity, an exchange’s circuit limit may occasionally be reached by a small number of orders.

When these equities are trading around upper circuits for several days, they typically yield better gains. Trading volumes typically do not coincide with this phase of hitting circuits. Occasionally, a compelling core narrative propels the stock higher. In other cases, stock operators may have just been manipulating the situation. In order to draw in gullible retail investors, they artificially increase the price and volumes. They would sell their personal holdings once they had a sufficient number of traders engaged in the stocks. Now that we are aware of penny stock operating principles. Let’s examine the meaning of the term “penny” stocks.

List of Best 20 Penny Stocks to Buy in India-2024

Best 20 Penny Stocks to Buy in India-2024

The lowest class of retail investors who trade or invest in penny stocks typically don’t maintain a portfolio approach and instead make their purchases based on news or tips from arbitrary sources. They believe that because the price is so cheap, they won’t lose anything, but if the company performs well, their investment could increase by two or three times. Though they may be making little investments, investors should always remember that they could lose all of their money.

Considerations when purchasing penny stocks

There’s also a significant chance that a penny stock may collapse. The business may abruptly close, or there may be very little chance of receiving multi-bagger profits. Not more than two or three percent of an individual’s portfolio worth should be allocated to penny stocks overall. Penny stock investing is primarily speculative. Investors should first refrain from purchasing any of them and should consider doing so as if they were purchasing lottery tickets. Never let your emotions get tied to them in the hopes of receiving good news.

Furthermore, even if they have lately experienced strong results, investors should never adopt a purchase and hold strategy. Because they neither maintain a transparent reporting system nor are able to provide wealth for shareholders over time. It is advisable for investors to conduct thorough research on the stock and publicly available news to avoid falling prey to manipulative operators who manipulate prices and then sell their shares.

Some penny stocks have greater transaction costs, while some have brokerage fees that are based on the number of shares. In a similar vein, the spread between the ask and bid prices becomes noteworthy in percentage terms when equities trade at extremely low prices. The watchlist’s stocks were selected by taking into account news, rumors, price chart trends, and a few key elements including cash flows and the debt to equity ratio. However, this information is subject to change daily based on the news flow, so before purchasing these stocks, an investor should conduct any necessary background investigations.

Best 7 Penny Stocks to Buy Now

Morepen Laboratory

The pharmaceutical business is called Morepen Laboratories. From a single product firm to a multi-activity business with a worldwide outlook and happy clients in more than 80 countries, Morepen has expanded consistently. The corporation is located in the northern Indian state of Himachal Pradesh (HP), and it operates three cutting-edge manufacturing facilities there. The United States Food and Drug Administration (USFDA) inspects and approves the Parwanoo main plant to produce Loratadine, the world’s best-selling anti-allergy medication.

As the world’s biggest producer of loratadine, it currently holds a 90% market share in the US for generic loratadine and supplies prestigious clients like Merck and Novartis.With a debt to equity ratio of 0.03, the company is doing well. The CAGR for sales and profits during the last five years has been 18.5% and 5.4%, respectively.

Bank of Maharashtra

With a capital of Rs. 10 lakh, the Bank of Maharashtra (BoM) was established on September 16, 1935. In Maharashtra, the bank has more branches than any other public sector bank. The bank provides the following services: NRI banking, which offers products and services to NRI clients, including FCNR accounts and remittance services; Personal Banking, which offers services and products like deposits, savings, personal loans, education loans, RTGS, demat services, credit cards, etc. The SME and agricultural sectors are also served by the PSU bank. The business posted remarkable achievements in Q4FY24, with a 45% increase in profit. In the last year, the stock has produced returns of more than 100%.

Vodafone Idea Limited

Vodafone Idea Limited is a joint venture between the Vodafone Group and the Aditya Birla Group. It is the top telecom service provider in India. With a revenue market share of roughly 21.75% of the Indian mobile telecommunications services market, it is the third-largest cellular provider by customers in India. The company offers voice and data services throughout India on 2G, 3G, and 4G networks. The company has declared that it will begin offering its 5G services in India shortly. Vodafone is losing subscribers to rivals like Reliance Jio and Airtel, which is a serious blow to the company’s operations. Though it is very dangerous, Vodafone should be on speculators’ radars. Before purchasing this stock, volumes should be carefully monitored.

Easy Trip Planners

In order to serve the offline travel market in India, EaseMyTrip launched its operations in 2008 with an emphasis on the B2B2C (business to business to customer) distribution channel. Travel agents were given access to the company’s website to purchase domestic airline tickets. RoE and RoCE for the company are both healthy at 47% and 54.6%, respectively. Sales and profit CAGRs over the past five years are 34% and 86%, respectively. Its current PE is less than its five-year average.

NHPC Limited

The Government of India’s Mini-Ratna Category-I Enterprise is NHPC Ltd. This corporation is among the biggest in the nation when it comes to hydropower development. It is an organization that generates hydroelectric electricity and is committed to organizing, creating, and putting into action an effective, cohesive network of hydroelectric projects throughout India. They carry out every step of the hydroelectric project development process, from project conception to project commissioning. The company has a low debt to equity ratio of 0.80 and a respectable dividend yield of approximately 4.6%. almost the past year, the stock has produced returns of almost 100%.

TV18 Broadcast Ltd

Supporting TV18 Broadcast Ltd is Reliance, the biggest firm in India in terms of market capitalization. There has been a noticeable increase in the media and entertainment industry since Covid. TV18 has been actively pursuing strategies to increase its portion of the market. The likelihood of the company doing the same is great in an oligopoly market. In order to drive expansion, BodhiTree has also lately made investments in the company. The stock has been rising within a range of Rs. 30 to Rs. 70, according to a range-bound perspective. Therefore, the stock appears to be a strong candidate for penny stock trading based on its solid fundamentals and technical analysis.

GMR Airports Infrastructure

A subsidiary of GEPL, GMR Airports Infrastructure Limited (formerly known as GMR Infrastructure Limited) develops, manages, and maintains airports in addition to providing integrated security systems. The airport segments are managed by GMR Airports Limited (GAL), while the security solutions are handled by RAXA Techno Security Solutions. In Q3FY24, there was a noticeable increase in traffic. The business is upbeat about its prospects for growth because to planned expansions and higher traffic. In the last year, the stock has returned more than 90% of its investment.

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