Top 10 Fundamentally Strong Penny Stocks To Buy Of 2024 | Explore Now (2024)

Penny Stocks are stocks of small-cap companies having lower market capitalization and per stock price. Investing in penny stocks with growth potential can give high returns. Let us know some of the rewarding penny stocks in India.

Many companies are listed in the stock market, ranging from reputed companies with high stock prices to small businesses with very small prices per stock. These companies are often new startups or companies with low market capitalization, offering their securities at a lower price index.

People often ask for stocks with a lower price and significant returns. These stocks are often considered high-risk investments but can sometimes yield higher returns. New traders often invest in these stocks for practice and to understand the fundamentals of the stock market. Let us share some limelight on the best penny stocks to buy in India in 2024.

What are Penny Stocks?

Penny Stocks are stocks of small companies that are traded at a low price and volume. These stocks are traded on the NSE (National Stock Exchange) and Bombay Stock Exchange (BSE). These stocks consist of startup companies or small businesses with a small market capitalization. The per-stock price of these stocks is low and it is considered best for new traders to practice and know the fundamentals of the stock market.

Penny Stocks to Buy in India: Key Takeaways

• Penny stocks are stocks of small-cap companies in India.
• These stock’s average per-share costs are generally below 10 INR.
• They are high-risk investments.
• Investing in these stocks is good for learning purposes, especially for new traders.
• Penny stocks often die out with time or get delisted from the stock market list resulting in losses.
• However, with proper market research, and analysis investing in penny stocks with growth potential can be fruitful.

Major Points to Keep in Mind While Buying Penny Stocks

Check some of the frequent tips which can be considered while buying penny stocks in India.

• Make sure to conduct proper research about the company’s finances, team, operations and performance.
• Go with stocks having a proven track record of lower Debt-to-equity ratio, revenue growth, profitability and higher market capitalization.
• Assess the company’s growth potential before making an investment.
• Try holding your penny stock for the long term to gain high returns. Short-term investments can have minimum benefits.
• Ensure the liquidity and trading volume of the penny stock are high to facilitate easy buying and selling.
• Diversify your investment portfolio to mitigate risk factors in adverse events.

List of Penny Stocks Below INR 10 in 2024

Check the table below for penny stocks having higher return potential below.

Top 10 Penny Stocks to Buy in India 2024

Many companies offer penny stocks at lower prices. However, investors must think well before investing. Investors must invest only in businesses with good potential for growth in coming years. Let us check some of the best penny stocks to buy in India.

1. Sunshine Capital Ltd

Sunshine Company is an ISO Certified company with the objective of enhancing customer satisfaction through long-term investments such as equity, shares and other related securities.

2. Standard Capital Markets Ltd

Standard Capitals is an Indian-based, non-deposit accepting Non-Banking Financial Company (NBFC) engaged in providing value-added services and products to its customers. They are typically involved in non-banking financial activity.

3. Comfort Intech Ltd

Comfort is a company engaged in the business of making Indian Made foreign liquors and alcoholic beverages in India. It also trades in products like water heaters, pumps, fans, home appliances, etc.

4. Vikas Ecotech Ltd

Vikash Ecotech is an Indian-based company engaged in the business of manufacturing different chemicals. They also manufacture eco-friendly and technologically superior products and additives for the world.

5. Globe Textiles

Globe Textiles is an exporter of fabrics and garments in domestic and global markets. They manufacture apparel and textile products. They offer denim, bedsheets, shirting fabrics, yarns, etc in India.

6. GG Engineering Ltd

GG Engineering Enterprise manufactures auto parts and manufacturing activities such as shearing, bending, fabrication, welding, assembly and others.

7. Rajnandini Metal Ltd

Rajnandini is an Indian-based company registered under the Companies Act 1956. They manufacture high-grade copper continuous casting rods. They use smart and sophisticated technology to produce uniform electrical conductivity rods with maximum efficiency in conducting power.

8. Growington Ventures India Ltd

This company is an exporter and manufacturer of fruits, tours and travel activities in India. They are used for ticketing services such as car booking, hotel booking, etc.

9. Indian Infotech and Software Ltd.

It is an Indian Based company Non-Banking Finance Company (NBFC) engaged in providing value-added services and financial activities. They generally provide loans to corporate borrowers in India. This company has a Return on Equity track record of -1.48%.

10. Accuracy Shipping Ltd

Accuracy Shipping Ltd provides a range of transportation and logistic services. It manufactures, stores, handles and distributes cargo. It has customers worldwide.

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