Top Penny Stocks in India for 2024: Best Picks for 2024
Penny stocks, typically priced below Rs. 10 or Rs. 20, attract investors because of their low cost and high growth potential. However, they come with significant risks. If you’re looking to invest in these stocks, it’s crucial to understand their characteristics, benefits, and potential downsides. In this article, let’s look at top penny stocks, types of penny stocks, risks, benefits, and more.
List of Top 10 Penny Stocks Under Rs. 10
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALSL | Almondz Global Securities Ltd | ALMONDZ | /stocks/almondz-global-securities-ALSL | Investment Banking & Brokerage | 32.86 | 39.13 | 14.05 | 559.63 | 16.43 | 17.61 | 2.54 | 0.00 | 15.84 | 117.74 | 55.49 | 1,842.46 | Smallcap | Financial Services | Capital Markets | Investment Banking & Brokerage | 0.43 |
| AROG | Aro Granite Industries Ltd | AROGRANITE | /stocks/aro-granite-industries-AROG | Building Products - Granite | 47.14 | 69.30 | 41.10 | 72.19 | 54.69 | 49.02 | 0.38 | 0.00 | 0.69 | -4.09 | -36.60 | 31.13 | Smallcap | Capital Goods | Building Products | Building Products | -0.83 |
| AVON | Avonmore Capital & Management Services Ltd | AVONMORE | /stocks/avonmore-capital-and-management-services-AVON | Investment Banking & Brokerage | 15.76 | 18.60 | 7.40 | 448.39 | 36.16 | 17.61 | 1.14 | 0.00 | 3.28 | 108.58 | 127.13 | 1,520.48 | Smallcap | Financial Services | Capital Markets | Investment Banking & Brokerage | 6.92 |
| DILG | Diligent Media Corporation Ltd | DNAMEDIA | /stocks/diligent-media-corporation-DILG | Publishing | 6.13 | 8.84 | 4.00 | 72.22 | 0.53 | -143.37 | 0.40 | 0.00 | 123.87 | 20.20 | 166.52 | 1,126.00 | Smallcap | Media & Entertainment | Media | Publishing | 2.61 |
| GOCL | Gocl Corporation Ltd | GOCLCORP | /stocks/gocl-corp-GOCL | Commodity Chemicals | 364.85 | 549.00 | 330.00 | 1,810.37 | 37.52 | 29.55 | 1.28 | 1.10 | 3.41 | -28.95 | 16.08 | 32.89 | Smallcap | Materials | Chemicals | Commodity Chemicals | -1.84 |
| NXTD | NDL Ventures Ltd | NDLVENTURE | /stocks/nxtdigital-NXTD | Real Estate | 110.18 | 149.95 | 81.35 | 371.35 | 230.65 | 66.75 | 5.92 | 0.91 | 2.46 | -24.38 | -70.34 | -66.88 | Smallcap | Media & Entertainment | Real Estate | Cable & Satellite | -0.93 |
| RELG | Religare Enterprises Ltd | RELIGARE | /stocks/religare-enterprises-RELG | Investment Banking & Brokerage | 308.55 | 320.00 | 201.60 | 10,210.55 | 43.84 | 17.61 | 3.22 | 0.00 | 7.85 | 43.65 | 133.57 | 629.43 | Smallcap | Insurance | Capital Markets | Life & Health Insurance | -2.46 |
| REMI | Welspun Specialty Solutions Ltd | WELSPLSOL | /stocks/welspun-specialty-solutions-REMI | Iron & Steel | 47.92 | 58.90 | 30.68 | 2,542.61 | 40.70 | 29.55 | 22.75 | 0.00 | 79.19 | 19.17 | 173.99 | 374.46 | Smallcap | Materials | Metals & Mining | Steel | -0.25 |
| UNTE | Unitech Ltd | UNITECH | /stocks/unitech-UNTE | Real Estate | 9.31 | 19.80 | 5.80 | 2,438.09 | -0.73 | 66.75 | -0.49 | 0.00 | 0.00 | 45.47 | 210.33 | 786.67 | Smallcap | Real Estate Management & Development | Real Estate | Real Estate Development | -1.61 |
| WELS | Welspun Enterprises Ltd | WELENT | /stocks/welspun-enterprises-WELS | Construction & Engineering | 589.85 | 619.00 | 281.55 | 8,059.93 | 27.31 | 49.02 | 3.24 | 0.51 | 12.16 | 81.35 | 539.75 | 739.05 | Smallcap | Capital Goods | Construction & Engineering | Construction & Engineering | 1.45 |
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
Note: The data in this all penny stocks list is subject real-time updates. The penny stocks have a close price less than Rs. 10 using Tickertape Stock Screener.
List of Multibagger Penny Stocks in India
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANU | Anuroop Packaging Ltd | ANUROOP | /stocks/anuroop-packaging-ANU | Packaging | 29.22 | 42.30 | 17.77 | 32.33 | 7.92 | 29.55 | 1.26 | 0.00 | 17.24 | 51.09 | 71.88 | 129.18 | Smallcap | Materials | Containers & Packaging | Paper & Plastic Packaging Products & Materials | 3.52 |
| MEF | Mefcom Capital Markets Ltd | MEFCOMCAP | /stocks/mefcom-capital-markets-MEF | Investment Banking & Brokerage | 20.21 | 25.15 | 10.35 | 92.45 | 11.90 | 17.61 | 3.86 | 0.00 | 40.82 | 53.57 | 119.67 | 862.38 | Smallcap | Financial Services | Capital Markets | Investment Banking & Brokerage | 2.87 |
| PLAD | Plada Infotech Services Ltd | PLADAINFO | /stocks/plada-infotech-services-PLAD | Software Services | 28.00 | 47.20 | 24.50 | 24.03 | 9.10 | 36.03 | 3.20 | 0.00 | 36.88 | -26.89 | -47.42 | -47.42 | Smallcap | Commercial & Professional Services | Software | Data Processing & Outsourced Services | -5.89 |
| QUA | Quasar India Ltd | QUASAR | /stocks/quasar-india-QUA | Commodities Trading | 1.74 | 1.74 | 0.09 | 83.90 | 52.44 | 49.02 | 10.55 | 0.00 | 22.38 | 148.49 | 499.62 | 438.31 | Smallcap | Capital Goods | Trading Companies & Distributors | Trading Companies & Distributors | 1.72 |
| VIPL | Vipul Ltd | VIPULLTD | /stocks/vipul-VIPL | Real Estate | 24.85 | 53.01 | 15.00 | 350.62 | 1.50 | 66.75 | 1.00 | 0.00 | 99.46 | 36.16 | 0.00 | 42.00 | Smallcap | Real Estate Management & Development | Real Estate | Real Estate Development | -2.01 |
Note: The data in this penny share list is subject to real-time updates. To learn more about the parameters used to sort the list, click here.
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Debt-Free Penny Stocks in India
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AVAN | Avance Technologies Ltd | AVANCE | /stocks/avance-technologies-AVAN | IT Services & Consulting | 0.88 | 1.71 | 0.76 | 174.57 | 35.77 | 36.03 | 0.46 | 0.00 | 1.31 | 11.39 | 2,278.38 | 2,278.38 | Smallcap | Technology Hardware & Equipment | Software | Technology Distributors | -1.14 |
| BRIH | Brightcom Group Ltd | BCG | /stocks/brightcom-group-BRIH | Advertising | 9.83 | 21.95 | 6.80 | 1,800.52 | 2.62 | -143.64 | 0.26 | 0.00 | 22.30 | -49.20 | -91.31 | 207.19 | Smallcap | Media & Entertainment | Media | Advertising | 4.93 |
| INDIF | Indian Infotech and Software Ltd | INDINFO | /stocks/indian-infotech-and-software-INDIF | Consumer Finance | 1.31 | 2.97 | 1.08 | 166.14 | 97.16 | 17.61 | 0.61 | 0.00 | 0.68 | -31.65 | -79.25 | 659.09 | Smallcap | Financial Services | Consumer Finance | Consumer Finance | -1.53 |
| MANG | Mangalam Industrial Finance Ltd | MANGIND | /stocks/mangalam-industrial-finance-MANG | Diversified Financials | 3.37 | 6.97 | 2.71 | 324.38 | 1,802.12 | 17.61 | 11.37 | 0.00 | 0.63 | -19.04 | -35.41 | 1,043.87 | Smallcap | Financial Services | Diversified Financial Services | Specialized Finance | 4.75 |
| TOY | Toyam Sports Ltd | TOYAMSL | /stocks/toyam-industries-TOY | Diversified Financials | 2.26 | 6.84 | 2.19 | 129.58 | 26.72 | 17.61 | 0.39 | 0.00 | 2.43 | -60.07 | -43.92 | 56.94 | Smallcap | Financial Services | Diversified Financial Services | Specialized Finance | -0.88 |
Note: The data in this list of penny stocks in India is subject to real-time updates. The list of debt-free stocks is sorted using multiple parameters. To learn more about them, check out this article.
What are Penny Stocks?
Penny stocks refer to shares of small companies trading at a low share price, often under Rs. 10 in India. These stocks are listed on smaller exchanges or OTC markets. It makes them less prominent compared to blue-chip stocks. Investors are drawn to top penny stocks for their low initial investment. These cheapest stocks in India often belong to newer or struggling companies, reflecting the risks associated with investing.
Features of Penny Stocks
Low Market Price:
Penny stocks in India, often priced under Rs. 10 or Rs. 20, are popular among small investors seeking to invest in penny stocks. Knowing how to identify penny stocks can lead to significant returns.
Low Market Capitalisation:
Most potential penny stocks in India belong to small-cap or micro-cap companies. However, strong penny stocks with solid fundamentals can be rewarding.
High Volatility:
The penny stock market is highly volatile, with small changes in demand or supply leading to sharp price swings. Understanding how to identify penny stock and analysing penny stock price patterns are essential to find multibagger penny stocks for 2024.
Limited Information:
Details about Indian penny stocks with strong fundamentals can be scarce, making them riskier for long-term investment. By reviewing penny share price lists and the reliance penny stock list, investors can identify penny stocks with potential.
Types of Penny Stocks
Turnaround Stocks:
These are often the best penny stocks, offering recovery potential. They are among the top 10 penny stocks in India for those focused on long-term investment.
Speculative Stocks:
Found in the penny stock list NSE, these high-risk stocks may yield significant returns. They are an option for those considering which penny stocks to choose.
Growth Stocks:
Companies with rapid expansion potential issue strong penny stocks, frequently listed among the top penny stocks in India.
Sector-Specific Stocks:
Many of the top 100 penny stocks are tied to specific sectors. They are often included in penny stock lists in India as the best penny stocks in India, based on industry trends.
How to Find Good Penny Stocks?
Finding good penny stocks requires:
- Researching the Company: Assess the company’s fundamentals, management, and financials. This helps identify fundamentally good penny stocks and the best long term penny stocks.
- Checking Volume: Stocks with high trading volumes are more liquid. Top penny shares in India are easier to trade.
- Using Technical Analysis: This analysis identifies share price trends and entry/exit points. It’s crucial for those considering penny stock trading.
Benefits of Investing in Penny Stocks
- High Growth Potential: Some of the top penny stocks can yield huge returns. The best penny stocks 2024 may surge significantly.
- Low Investment Cost: Investing in penny stocks for long term with minimal capital allows for the purchase of more shares.
- Diversification: Adding the best penny stocks for long term investment diversifies your portfolio and reduces overall risk.
Risks of Investing in Penny Stocks
- High Volatility: Even the best penny stocks in India can experience extreme price swings, leading to potential losses.
- Limited Information: Some good penny stocks in India lack transparency, making due diligence challenging.
- Liquidity Risk: Low trading volumes may make it hard to sell even good penny stocks.
To Wrap It Up…
Investing in NSE penny stocks can offer substantial returns, but the risks involved are equally significant. Before diving in, it’s important to research thoroughly and weigh the potential volatility and lack of information. By approaching with caution and carefully assessing the risks, penny stocks could become a rewarding part of your investment strategy, but only with informed decision-making.
Frequently Asked Questions about Penny Shares (FAQs)
Penny stocks are low-priced shares, typically trading under Rs. 10 or Rs. 20 in India, and belong to small or less-established companies with high growth potential but also significant risks.
Beginners should be cautious when investing in penny stocks due to their high volatility, limited information, and greater risk compared to large-cap stocks.
Their low prices enable beginners to experiment and learn trading directly without facing substantial financial risk. The small initial investment also helps minimise potential losses.
You can invest in penny stocks on almost any online trading platform if you have a demat account. You can open a demat account with smallcase by clicking here.
Penny stocks can offer high returns but also come with high risks. They may suit experienced investors willing to take on significant risk but are generally not considered safe for long-term, stable investments.
The growth rate of penny stocks can vary greatly, depending on the company and market conditions. Some penny stocks can experience rapid growth, offering substantial returns in a short period, especially if the company shows strong potential or is involved in a booming industry. However, most penny stocks are highly volatile and risky, meaning they can also decline quickly.
You can hold a penny stock for as long as you choose, as there are no specific time limits on ownership. The holding period depends on your investment strategy and goals. Some investors may hold penny stocks for a short time, aiming to capitalise on quick price movements, while others may hold them longer, hoping the company will grow and increase in value over time.
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