Introduction:
Penny stocks are often viewed as high-risk, high-reward investments. With their low share prices, they can offer substantial returns for investors willing to take on some risk. In the Indian stock market, several penny stocks trade under Rs. 5 and have the potential for growth in 2024.
Open Demat Account and Start Trading!
In this blog post, you will explore ten such penny stocks worth considering for investors looking to diversify their portfolios and potentially capitalise on emerging opportunities.
10 best penny stocks under Rs. 5 in India
Below is the list of the top ten penny stocks in India under Rs. 5 in 2024:
1. GTL Infrastructure Limited
GTL Infrastructure Limited is an India-based company engaged in the business of passive infrastructure sharing and energy management. The company is primarily responsible for building, operating, and managing telecom and energy infrastructure, which includes telecom towers, power towers, etc. As of 22 April 2024, GTL Infrastructure shares were available for Rs. 1.75 per share at the NSE. The stock has zoomed by more than 125% in the trailing year.
2. FCS Software Solutions
FCS Software Solutions Limited is an Indian company providing a range of B2B services, including Information Technology (IT), engineering, Artificial Intelligence (AI), business processing, and e-learning, among others. The company has delivered stellar returns of 94% to investors in the trailing year. As of 22 April 2024, FCS Software Solutions’ shares were trading for Rs. 4.10 per share at the NSE.
3. Managalam Industrial Finance Limited
Mangalam Industrial Finance Limited is an emerging Non-Banking Financial Company (NBFC) in India. It offers investing and financing services through products such as machinery loans, plot loans, etc. As of 22 April 2024, the shares of Mangalam Industrial Finance Limited were trading for Rs. 4.90 per share at the NSE. The one-year return of the stock stood at Rs. 80.28%.
4. Reliance Communications Limited
Reliance Communications Limited is a leading telecommunications service provider in India. The company boasts a diverse product portfolio, including cloud networking, network connectivity, data services, cloud telephony, and OTT. As of 22 April 2024, Reliance Communications’ shares were trading for Rs. 1.68 per share at the BSE and Rs. 1.70 per share at the NSE.
5. Sunshine Capital Limited
Sunshine Capital Limited is another NBFC company on this list. It offers loans and investment-related services to its clients. With a one-year trailing return of 116%, Sunshine Capital is one of the top penny stocks under Rs. 5 in India. As of 22 April 2024, the shares of this company were trading for Rs. 3.58 per share at the BSE.
6. India Steel Works Limited
India Steel Works Limited is engaged in the manufacturing and selling of steel products, including hot steel bars, bright steel bars, steel rods, steel wires, wire rods, etc. As of 22 April 2024, the shares of India Steel Works Limited were trading for Rs. 3.55 per share at the BSE and the company’s market cap stood at Rs. 141 crores.
7. Integra Essentia Limited
Integra Essentia Limited is an India-based company engaged in the trading of essential life items. These include agricultural commodities, processed foods, clothing, furnishing, and energy equipment. As of 22 April 2024, Integra Essentia shares were trading for Rs. 3.45 per share at the NSE. The company’s profit-to-equity (P/E) ratio stood at 19.24.
8. Avance Technologies Limited
Avance Technologies Limited offers IT solutions to individuals and businesses. The company’s product portfolio comprises software and hardware products, digital media planning services, mobile app marketing, and search engine optimization (SEO), among others. As of 22 April 2024, Avance Technologies' share price stood at Rs. 0.95 per share after a whopping increase of 780% in the trailing year.
Read More: Penny Stock in India 2024
9. Standard Capital Markets Limited
Standard Capital Markets Limited is another NBFC company on this list. The company offers loans and value-added services to its customers. As of 22 April 2024, the company’s share price stood at Rs. 1.92 per share.
10. Empower India Limited
Empower India Limited provides digital solutions to its customers. Its clients primarily include advertising and market players. As of 22 April 2024, the company’s share price stood at Rs. 2.32 apiece.
To conclude
These are the best penny stocks under Rs. 5 in India. Investing in these stocks can be risky but rewarding. You must conduct thorough research and due diligence before making investment decisions.
Financial Calculators: SWP Calculator | EMI Calculator | SIP Calculator | Compound Interest Calculator | CAGR Calculator | Sukanya Samriddhi Yojana Calculator | Retirement Calculator | Mutual Fund Returns Calculator | EPF Calculator | Inflation Calculator
Popular Stocks: ICICI Bank Share Price | HDFC Bank Share Price | CDSL Share Price | UPL Share Price | TCS Share Price | BHEL Share Price | Trident Share Price | IRFC Share Price | Adani Power Share Price