As a new investor in the market, you may be overwhelmed by a lot of charges that are available to you. But if you are looking for an inexpensive option that can be profitable for you in the beginning, then investing in penny stocks is the best thing to get started.
Penny stocks are the stocks of publicly traded companies that list their stocks in the exchanges for INR 10 or even less.
Penny stocks are small, have a minimum trading volume, and are low on liquidity. MoneyMintra.com has analyzed the stocks listed in the stock market indices like NSE and BSE in India, and here are some of the best penny stocks you can invest in to gain profit.
1.Suzlon Energy Ltd
The stock of Suzlon Energy Ltd is currently 8.7 rupees and has seen a growth of over 30% in the past few months. The market cap of the energy giant is about 90 Billion Rupees, which is a clear indication of a strong energy sector company.
It is one of the world’s top wind turbine suppliers, and with India’s growing demand for increased use and investment in the renewable energy sector, Suzlon Energy Ltd has always made its contribution to the country. The company is also focusing on expanding its wings in the solar space.
2.South Indian Bank
The current trading price of the stock of South Indian Bank is 11.25, and it has seen a growth of over 38% in 6 months. It is the top bank in south India that has significantly brought down its non-performing assets.
The bank transformed from a regional, traditional and inefficient bank to a modern, technological and efficient bank that primarily focuses on diversified banking facilities.
3.Vodafone Idea Ltd
With a strong market capitalization of 320 billion Rupees, Vodafone Idea Ltd has great potential for new investors. The Indian Government has a significant stake in the company, and this brings trust for the growth of the company and its stock price. Vodafone Idea Ltd is one of the top telecom providers in the country, and with a stock price of 8.8 Rupees, it is a good penny stock for new investors.
4.Impex Ferro Tech Ltd
It is a penny stock that has given more than 640% return within a duration of one year. Currently, the stock price of the penny stock is 5.23 rupees, and it has high volatility.
In the past 3 months, the price of the stock was more than 16 rupees, and hence it has the potential to threefold your investment within a few months. The company’s robust business profile is why the stock has been able to deliver good returns throughout these years.
5.Visa Steel Ltd
The Indian Government is gradually making its contribution to the company to revive the economy. An increase in demand for metals and mining products is why you should have an investment in the company. Its share price is also low at 5.23 rupees per share, and it can be twofold or threefold your investment.
Being a new investor in the market, if you want to make a profit within a few months and that too without any risk, then these are the top five penny stocks that you can consider.
