Introduction:
Penny stocks, often defined as stocks with a low share price, have long been considered the wild west of the stock market. These low-priced securities can provide substantial returns in the short term, but they also come with higher risks. In 2023, the Indian stock market witnessed the rise of several penny stocks that outperformed expectations and caught the attention of savvy investors. In this blog, you will explore some of the top-performing penny stocks in India in the last year. Continue reading.
Top-performing penny stocks in 2024
Owing to their speculative characteristics and limited liquidity, penny stocks are deemed as highly risky investments. Such stocks are frequently overlooked by investors because of their low market capitalisation and limited trading volume. Nevertheless, for investors willing to engage in meticulous research, fundamentally strong penny stocks can offer excellent opportunities to achieve substantial returns. Below are some top-performing penny stocks in the last year you can consider investing in:
1. GTL Infrastructure Limited
Incorporated in 2006, GTL Infrastructure Limited is a leading provider of telecom infrastructure solutions in India, offering a range of products and services that span tower infrastructure, energy, and engineering. The primary product line encompasses telecom towers, rooftop towers, shelters, and various other infrastructure components.
In terms of performance, GTL Infrastructure shares have zoomed by 120% during the last year. The stock rose to its 52-week high of Rs. 2.24 per share at the Bombay Stock Exchange (BSE) on 6 February 2024. Its last one-month return stood at 37.42%.
Read More: Penny Stock in India 2024
2. FCS Software Solutions Limited
FCS Software Solutions Limited is a leading IT services provider with operations spanning the United States, India, and the Middle East. The company boasts two wholly owned subsidiaries and operates through three strategic business units dedicated to application maintenance, IT consulting, and education/infrastructure management. Established in 1993 under the name Fateh Computer Services Pvt. Ltd., the company has experienced substantial growth over the past two decades.
As of 6 February 2024, FCS Software Solutions Limited’s shares were trading for Rs. 6.25 per share at the exchanges. They have provided a return of 152% in the last year. The market cap of the company stood at Rs. 1,068 crores.
3. Sarveshwar Foods Limited
Sarveshwar Foods Limited began its journey as a private limited company in August 2004. The company is primarily focused on the processing and marketing of both branded and unbranded Basmati and non-Basmati rice in both domestic and international markets. In India, the company mainly operates in Jammu, Kashmir, and Leh regions.
As of 6 February 2024, Sarveshwar Foods Limited’s shares were trading for Rs. 9.95 per share at the NSE and Rs. 9.96 per share at the BSE. These shares have zoomed by 279.75% in the last year.
4. Standard Capital Markets Limited
Founded in 1987, Standard Capital Markets Limited is a Non-Banking Financial Company (NBFC) offering services such as loans, deposits, investments, etc. Despite encountering several challenges over the years, the Board of Directors remains resolute in its commitment to spearheading a transformative growth trajectory for the company in the upcoming years.
As of 6 February 2024, Standard Capital Markets Limited’s shares were trading for Rs. 2.75 per share at the exchanges. These shares have zoomed by 116% in the last year. The market cap of the company stood at Rs. 404.25 crores.
5. Integra Essentia Limited
Formerly known as Five Star Mercantile Limited, Integra Essentia Limited is an apparel manufacturing company. With a steadfast commitment to delivering top-notch garment quality, the company has catered to numerous renowned clients, such as Decathlon and Gravity, over its 13 years of establishment. Integra Garments has successfully processed over 200 million garment pieces and established an efficient and reliable supply chain network in Asia.
As of 6 February 2024, the shares of Integra Essentia Limited were trading for Rs. 6.05 per share at the exchanges. The one-year return stood at 64%. The market cap of the company stood at Rs. 562.15 crores.
To conclude
Investing in penny stocks requires careful consideration of risk and thorough research. While the stocks mentioned above showcased impressive performances in 2023, investors must approach penny stocks with caution. The volatile nature of these securities means that gains can be substantial, but losses can be equally significant.
Financial Calculators: Compound Interest Calculator | EMI Calculator | SIP Calculator | SWP Calculator | RD Calculator | NPS Calculator | PPF Calculator | Mutual Fund Returns Calculator | Inflation Calculator | Option Value 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