List of Best Penny Stocks in India 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AJOO | Ajooni Biotech Ltd | AJOONI | /stocks/ajooni-biotech-AJOO | Pharmaceuticals | 8.85 | 10.34 | 3.48 | 138.83 | 64.57 | 51.22 | 3.25 | 0.00 | 5.10 | 118.21 | -8.75 | 31.21 | Smallcap | Food, Beverage & Tobacco | Pharmaceuticals | Agricultural Products & Services | 4.98 |
| AKSO | Aksh Optifibre Ltd | AKSHOPTFBR | /stocks/aksh-optifibre-AKSO | Communication & Networking | 9.13 | 15.85 | 7.90 | 132.76 | -1.86 | 35.15 | 3.28 | 0.00 | -123.01 | -18.84 | 0.88 | 23.38 | Smallcap | Technology Hardware & Equipment | Communications Equipment | Communications Equipment | 6.16 |
| ALPS | Alps Industries Ltd | ALPSINDUS | /stocks/alps-industries-ALPS | Textiles | 3.90 | 4.56 | 1.75 | 16.12 | -0.29 | 42.92 | -0.03 | 0.00 | 0.00 | 69.57 | 2.63 | 1,200.00 | Smallcap | Consumer Durables & Apparel | Textiles, Apparel & Luxury Goods | Textiles | 3.45 |
| AMPL | Ankit Metal & Power Ltd | ANKITMETAL | /stocks/ankit-metal-and-power-AMPL | Iron & Steel | 3.55 | 5.60 | 0.00 | 52.78 | -0.53 | 32.62 | -0.06 | 0.00 | 0.00 | -26.04 | 36.54 | 610.00 | Smallcap | Materials | Metals & Mining | Steel | 2.60 |
| ANTC | Antarctica Ltd | ANTGRAPHIC | /stocks/antarctica-ANTC | Packaging | 1.84 | 2.48 | 0.65 | 29.92 | -71.23 | 32.62 | 1.84 | 0.00 | -2.54 | 145.33 | 130.00 | 145.33 | Smallcap | null | Containers & Packaging | null | -2.13 |
| ARSH | Arshiya Ltd | ARSHIYA | /stocks/arshiya-ARSH | Logistics | 3.55 | 9.75 | 3.10 | 93.53 | -0.03 | 51.13 | 0.59 | 0.00 | -66.74 | -15.48 | -88.80 | -81.27 | Smallcap | Transportation | Transportation Infrastructure | Air Freight & Logistics | 4.72 |
| BILT | Ballarpur Industries Ltd | BALLARPUR | /stocks/ballarpur-industries-BILT | Paper Products | 0.85 | 1.45 | 0.55 | 109.94 | -0.09 | 20.38 | -0.11 | 0.00 | 0.00 | -29.17 | -29.17 | -29.17 | Smallcap | Materials | Paper & Forest Products | Paper Products | -5.56 |
| BRIH | Brightcom Group Ltd | BCG | /stocks/brightcom-group-BRIH | Advertising | 9.45 | 22.95 | 6.80 | 2,008.43 | 1.46 | -161.11 | 0.38 | 1.00 | 21.33 | -44.08 | -80.75 | 530.00 | Smallcap | Media & Entertainment | Media | Advertising | -5.03 |
| BHRT | Bharatiya Global Infomedia Ltd | BGLOBAL | /stocks/bharatiya-global-infomedia-BHRT | IT Services & Consulting | 3.09 | 4.70 | 2.20 | 5.10 | -2.01 | 35.15 | 0.06 | 0.00 | -2.91 | 31.49 | 8.42 | 8.42 | Smallcap | Software & Services | Software | IT Consulting & Other Services | -4.04 |
| BHEX | Bhandari Hosiery Exports Ltd | BHANDARI | /stocks/bhandari-hosiery-exports-BHEX | Apparel & Accessories | 7.12 | 11.33 | 4.96 | 158.19 | 24.23 | 42.92 | 1.59 | 0.00 | 7.00 | 27.26 | 115.84 | 603.83 | Smallcap | Consumer Durables & Apparel | Textiles, Apparel & Luxury Goods | Apparel, Accessories & Luxury Goods | 10.05 |
| BIRT | Birla Tyres Ltd | BIRLATYRE | /stocks/birla-tyres-BIRT | Tires & Rubber | 5.30 | 5.80 | 3.75 | 75.57 | -2.04 | 63.85 | -0.06 | 0.00 | 0.00 | 4.95 | -73.10 | -62.81 | Smallcap | Automobiles & Components | Auto Components | Tires & Rubber | -4.50 |
| BKMI | BKM Industries Ltd | BKMINDST | /stocks/bkm-industries-BKMI | Packaging | 1.63 | 2.50 | 0.00 | 11.27 | -5.50 | 32.62 | 0.07 | 0.00 | -17.37 | 132.86 | 25.38 | 35.83 | Smallcap | Materials | Containers & Packaging | Metal, Glass & Plastic Containers | -5.23 |
| BLCI | Blue Chip India Ltd | BLUECHIP | /stocks/blue-chip-india-BLCI | Asset Management | 6.31 | 6.45 | 1.05 | 35.01 | -11.91 | 18.03 | 17.25 | 0.00 | -86.22 | 425.83 | 2,003.33 | 1,702.86 | Smallcap | Financial Services | Capital Markets | Asset Management & Custody Banks | 1.94 |
| BRFL | Bombay Rayon Fashions Ltd | BRFL | /stocks/bombay-rayon-fashions-BRFL | Apparel & Accessories | 2.00 | 2.20 | 1.85 | 63.50 | -0.05 | 64.82 | -0.08 | 0.00 | 0.00 | -9.09 | -77.40 | -52.94 | Smallcap | Consumer Durables & Apparel | Textiles, Apparel & Luxury Goods | Textiles | 2.56 |
| BRGH | Bright Solar Ltd | BRIGHT | /stocks/bright-solar-BRGH | Industrial Machinery | 6.25 | 12.50 | 4.75 | 16.37 | -2.73 | 51.13 | 0.56 | 0.00 | -19.91 | 21.36 | 10.40 | -37.24 | Smallcap | Capital Goods | Machinery | Construction & Engineering | -4.58 |
| BRCL | Burnpur Cement Ltd | BURNPUR | /stocks/burnpur-cement-BRCL | Cement | 6.78 | 12.97 | 4.60 | 59.17 | -0.60 | 32.62 | -0.13 | 0.00 | 0.00 | 41.25 | 99.41 | 465.00 | Smallcap | Materials | Construction Materials | Construction Materials | 0.44 |
| CMI | CMI Ltd | CMICABLES | /stocks/cmi-CMI | Cables | 5.75 | 8.20 | 4.22 | 9.01 | -1.08 | 51.13 | -0.07 | 0.00 | 0.00 | -14.81 | -87.21 | -89.62 | Smallcap | Capital Goods | Electrical Equipment | Electrical Components & Equipment | 2.31 |
| CMMN | CMM Infraprojects Ltd | CMMIPL | /stocks/cmm-infraprojects-CMMN | Construction & Engineering | 2.60 | 5.50 | 1.60 | 4.08 | 19.40 | 51.13 | 0.07 | 0.00 | 0.93 | -25.71 | -83.75 | -40.91 | Smallcap | Capital Goods | Construction & Engineering | Construction & Engineering | 1.96 |
| COMI | Compuage Infocom Ltd | COMPINFO | /stocks/compuage-infocom-COMI | Technology Hardware | 3.48 | 13.20 | 2.43 | 25.90 | -0.23 | 35.15 | 0.10 | 0.00 | 11.14 | -71.71 | -86.84 | -63.56 | Smallcap | Technology Hardware & Equipment | Electronic Equipment, Instruments & Components | Technology Distributors | 4.82 |
| COCO | Country Condo's Ltd | COUNCODOS | /stocks/country-condos-COCO | Real Estate | 6.98 | 8.83 | 4.05 | 54.16 | 33.85 | 64.75 | 2.21 | 0.00 | 6.75 | 68.19 | 62.33 | 257.95 | Smallcap | Real Estate Management & Development | Real Estate | Real Estate Development | -0.57 |
| CRAS | Cranes Software International Ltd | CRANESSOFT | /stocks/cranes-software-international-CRAS | Application Software | 4.43 | 8.35 | 3.00 | 67.47 | -3.71 | 35.15 | -0.08 | 0.00 | 0.00 | -27.02 | 49.66 | 415.12 | Smallcap | Software & Services | Software | Application Software | 4.98 |
| CEYE | Creative Eye Ltd | CREATIVEYE | /stocks/creative-eye-CEYE | Movies & TV Serials | 6.16 | 8.10 | 0.00 | 11.89 | -4.57 | -161.11 | 0.58 | 0.00 | -12.00 | 57.95 | 50.24 | 373.85 | Smallcap | Media & Entertainment | Entertainment | Movies & Entertainment | 6.76 |
| DLCM | DSJ Keep Learning Ltd | KEEPLEARN | /stocks/dsj-communications-DLCM | Publishing | 6.33 | 7.51 | 0.00 | 107.13 | 324.64 | -161.11 | 324.64 | 0.00 | 140.43 | 232.38 | 849.66 | 897.14 | Smallcap | Consumer Services | Media | Education Services | -2.01 |
| DANG | Dangee Dums Ltd | DANGEE | /stocks/dangee-dums-DANG | FMCG - Foods | 7.60 | 13.45 | 6.80 | 120.72 | -138.75 | 56.31 | 7.41 | 0.00 | -5.20 | -20.42 | -40.39 | 3.40 | Smallcap | Food, Beverage & Tobacco | Food Products | Packaged Foods & Meats | -0.78 |
| DCFS | DCM Financial Services Ltd | DCMFINSERV | /stocks/dcm-financial-services-DCFS | Consumer Finance | 7.21 | 12.04 | 0.00 | 16.84 | -17.91 | 18.03 | -0.35 | 0.00 | 0.00 | 16.29 | 177.31 | 701.11 | Smallcap | Financial Services | Consumer Finance | Consumer Finance | -4.63 |
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 is from 8th October 2024. The penny stocks list is sorted based on market cap, and the stocks have a close price less than Rs. 10 using Tickertape Stock Screener.
Multibagger Penny Stocks to Buy in India
| Name | Sub-Sector | Market Cap (Rs. in cr.) | Close Price (Rs.) | PE Ratio | 1W Return (%) |
|---|---|---|---|---|---|
| Anuroop Packaging Ltd | Paper & Plastic Packaging Products & Materials | 37.85 | 32.74 | 9.28 | 10.06 |
| Mefcom Capital Markets Ltd | Investment Banking & Brokerage | 102.42 | 23.61 | 13.18 | 7.71 |
| Plada Infotech Services Ltd | Software Services | 26.58 | 30.00 | 10.07 | 6.38 |
| Quasar India Ltd | Trading Companies & Distributors | 11.92 | 22.26 | 7.45 | 5.97 |
| Vipul Ltd | Real Estate | 562.43 | 36.00 | 2.41 | 5.34 |
Note: The data is from 8th October 2024. To learn more about the parameters used to sort the list, click here.
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Disclosures for aforementioned smallcases
Debt-Free Penny Stocks in India
| Name | Sub-Sector | Market Cap (Rs. in cr.) | Close Price (Rs.) | PE Ratio |
|---|---|---|---|---|
| Brightcom Group Ltd | Advertising | 2,008.43 | 9.45 | 1.46 |
| Mangalam Industrial Finance Ltd | Diversified Financials | 391.88 | 3.46 | 2,177.10 |
| Toyam Sports Ltd | Diversified Financials | 177.73 | 3.19 | 36.64 |
| Indian Infotech and Software Ltd | Consumer Finance | 173.58 | 1.33 | 101.51 |
| Avance Technologies Ltd | IT Services & Consulting | 162.52 | 0.82 | 33.30 |
Note: The data is from 8th October 2024. 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 typically refer to shares of small companies that trade at a very low price, often below Rs. 10 in India. These stocks are usually listed on smaller exchanges or even over-the-counter (OTC) markets, which means they are not as well-known or frequently traded as blue-chip stocks. Many investors are drawn to top penny stocks because of the low initial investment required. You may wonder why they are so cheap. Generally, penny stocks belong to companies that are relatively new or struggling to grow, and their low prices reflect the risks associated with investing in them.
Features of Penny Stocks
- Low Market Price: Penny stocks are priced relatively low. They may cost less than Rs. 10 or Rs. 20 per share, making them affordable for even small investors looking for the best penny stocks to buy today or penny stocks to buy today. Some penny stocks can offer significant returns for those who know how to navigate their risks.
- Low Market Capitalisation: These stocks often belong to small or micro-cap companies, meaning the company’s overall value is limited. This characteristic is common in penny stocks with good fundamentals that can still be potential penny stocks despite their size.
- High Volatility: Since penny stocks list in the NSE are not traded as widely as other shares, their prices can be very volatile. Small shifts in demand or supply can cause sharp price fluctuations. Investors often seek the best penny stocks to buy in India because of their potential for quick gains due to this volatility.
- Limited Information: Information about the financial health and performance of Indian penny stocks with good fundamentals may not be readily available. Many of these companies are not required to disclose their financial reports as extensively as large corporations, making it crucial to research carefully before deciding how to buy penny stocks. Some penny stocks from the penny stocks list India may turn out to be hidden gems for the patient investor.
What Are The Types of Penny Stocks?
There are different types of penny stocks to buy in India that investors often come across. Three of them are:
- Turnaround Stocks: Turnaround penny stocks belong to companies that have struggled in the past but are now recovering through restructuring or operational improvements. They can often be found among the best penny stocks for long-term investments.
- Speculative Stocks: These stocks represent businesses with uncertain prospects, often offering high returns but with significant risks due to market volatility. Traders seeking the best penny stocks to buy now may consider these stocks due to their potential upside.
- Growth Stocks: Growth stocks are from companies expected to expand rapidly, often in industries like technology or healthcare. These stocks require careful evaluation of fundamentals, especially when found on penny stocks lists like the top 10 penny stocks in India. Investors often search for these when looking for the best penny stocks to buy today in India for the long term.
- Sector-Specific Stocks: These penny stocks are tied to particular industries, and market trends, policies, or technological advancements can influence their performance. Investors may consider government penny stocks or other sector-specific opportunities, depending on their market outlook and interest.
How to Find Good Penny Stocks?
Finding good penny stocks can be challenging, but certain steps may help improve your chances:
- Research the Company: You can review the company’s business model, management, and financials to understand its potential better.
- Check the Volume: Stocks with higher trading volumes are generally more liquid, making them easier to buy or sell.
- Use Technical Analysis: Using technical analysis can help identify price patterns, trends, and potential entry and exit points.
It is always worthwhile to consult a professional before investing.
Benefits of Investing in Penny Stocks
- High Growth Potential: Successful and popular penny stocks can offer significant returns as prices may surge from low levels.
- Low Investment Cost: You can invest with a small amount and still purchase a good number of shares.
- Diversification: Adding penny stocks to your portfolio may help diversify your investments.
Risks of Investing in Penny Stocks
- High Volatility: Prices can fluctuate sharply, leading to potential losses.
- Limited Information: Lack of transparency makes it difficult to assess the company’s financial health.
- Liquidity Risk: Low trading volumes may make it hard to sell shares when needed.
To Wrap It Up…
Investing in 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 Stocks (FAQs)
Penny stocks are low-priced shares, typically trading under ₹10 or ₹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.
You can buy and sell penny stocks through a brokerage account. It’s worthwhile to consult a professional before investing.
You can find penny stocks by researching companies on stock exchanges, tracking news, analysing trading volumes, and looking for companies with positive growth potential and stable fundamentals.
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.
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