Introduction:
Penny stocks have gained popularity among investors seeking substantial returns on a relatively small budget. These stocks typically belong to small-cap companies and are characterised by their low prices, particularly below Rs. 10. However, not all penny stocks turn out to be profitable. The key is identifying high-volume penny stocks that offer significant liquidity and price appreciation.
What are high-volume penny stocks?
High-volume penny stocks are characterised by high trading volume at relatively low per-share prices. These shares change hands frequently within a given timeframe. The presence of substantial buying and selling activity signifies heightened market engagement in these shares. Penny stocks appeal to aggressive investors owing to their low share prices and substantial trading volumes. They have the potential to provide significant returns in the long term.
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However, you must keep in mind that investing in penny stocks, particularly those with high trading volumes, carries inherent risks due to their volatility and susceptibility to market fluctuations. As an investor, you must exercise caution and conduct thorough research when integrating high-volume penny stocks into your investment portfolio.
Best high-value penny stocks in India in 2024
Identifying high-volume penny stocks with growth potential requires careful analysis and market insights. To make your task easier, we have listed the top high-value penny stocks in India that you can add to your portfolio in 2024:
1. Reliance Home Finance Limited
Reliance Home Finance Limited is an Indian company operating in the housing finance sector. It provides a range of financing solutions, including home loans, affordable housing loans, construction finance, and loans against properties.
As of 6 March 2024, Reliance Home Finance Limited had a volume of 38,23,941. The company’s shares were trading for Rs. 3.35 per share at the National Stock Exchange (NSE) and Rs. 3.37 per share at the Bombay Stock Exchange (BSE). The company’s market cap stood at Rs. 156 crores.
Read More: Penny Stock in India 2024
2. Franklin Industries Limited
Franklin Industries Limited is an India-based financial services company. It allows customers to trade in real estate and other commodities, such as gems, equities, jewels, and textiles.
As of 6 March 2024, Franklin Industries Limited had a volume of 42,539. The company’s shares were trading for Rs. 7.06 per share at the BSE. The shares have delivered exceptional returns of 616.02% in the last year.
3. Alok Industries Limited
Alok Industries Limited is a textile company that successfully recovered from the challenges posed by the pandemic by redirecting its efforts towards exports and emphasising the development of value-added products. Although the growth prospects appear promising, the considerable volatility in the market keeps investors apprehensive and cautious.
As of 6 March 2024, Alok Industries’ shares were trading for Rs. 29.05 per share at the NSE and Rs. 29.13 per share at the BSE. The company had a volume of 20,70,116.
4. Integra Essentia Limited
Integra Essentia Limited is an apparel manufacturing company with a firm dedication to delivering high-quality garments. Over its 13 years of establishment, the company has successfully served a multitude of prestigious clients, including well-known names like Decathlon and Gravity.
As of 6 March 2024, Integra Essentia shares were trading for Rs. 4.10 per share at the NSE and Rs. 4.09 per share at the BSE. The company had a high volume of 58,94,262.
5. Goyal Associates Limited
Goyal Associates Limited is another Non-Banking Financial Company (NBFC) on this list. The services include loans for micro, small, and medium-sized enterprises (MSMEs), vehicle loans, agricultural loans, etc.
As of 6 March 2024, Goyal Associates’ shares were trading for Rs. 1.90 per share at the BSE. The stock was not available on the NSE. The company had a volume of 1,48,940.
6. PrismX Global Ventures
PrismX Global Ventures offers microfinance and wealth management services. The stock has offered enticing returns in the past. As of 6 September 2024, the stock price stood at Rs. 1.45 per share at the BSE. The volume stood at 11,78,268.
To conclude
Investing in high-volume penny stocks in India requires a thorough understanding of the market dynamics and careful consideration of the associated risks. The stocks mentioned above are just a few examples of companies that have captured the interest of investors in 2024. You must conduct thorough research, diversify your portfolio, and stay informed about market trends.
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