Top Penny Stocks To Invest In Right Now

Top Penny Stocks To Invest In Right Now – Since penny stocks offer high returns in the short term, investors with a high level of risk choose them. (Photo: iStock)

Another factor that supports them is low income. They have fewer shares that can be traded in the stock exchange compared to other classes of shares.

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And since penny stocks offer high returns in the short term, high-risk investors choose them.

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In the past few months, there were several stocks that produced several trends in a short period of time.

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Its profit for the quarter ended June 2021 was ₹2.3 crore, a growth of 360% compared to ₹0.5 crore in the same period last year.

But how does this company make a profit without money? No, it was able to post a profit on the back of the other revenue which was at ₹5.4 crore.

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Adinath Textiles is a textile oriented company with 4,800 spindles installed. The company has invested in modern machines (SAVIO) from Italy and NSC (France).

The company’s shares were trading at ₹ 1.95/share on 01/01/2021. They currently trade at ₹37.45 and have a market capitalization of ₹269.6 million.

Flomic Global engages in financial intermediation activities. This group includes financial advisors, real estate advisors and brokers, foreign exchange offices (foreign exchange services), etc.

The company has a growth strategy to expand into tier 2 and 3 cities in India to serve retailers and exporters using the ‘Make in India’ initiative.

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The company has a total of 7.2 million shares, of which 72.5% are public and 27.5% are shareholders.

Remember we wrote about how Solar is hot and India is on the brink of a solar revolution as the Indian government plans to reach 450 GW (gigawatts) of renewable energy by 2030.

Well, Waaree Renewable Technologies seems to be capitalizing on this theme, as its shares are up 1,233% since the start of this year.

The company formerly known as Sangam Renewables, provides sustainable partnerships by providing renewable energy solutions to the industrial, corporate and commercial sectors, improving their profitability through renewable energy. long time.

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Based in Mumbai, Waaree is India’s largest solar module manufacturer. The company also provides solar energy solutions, employing more than 2,500 people worldwide. It has India’s largest solar panel manufacturing facility with a capacity of 2,000 megawatts.

India’s investment in renewable energy has increased in recent years. The construction of a power plant took more than 5 years. In contrast, India now sets up solar and wind farms in two years or less.

The company’s shares traded at ₹13.68 on 01/01/2021 and are currently ₹182.30, a whopping 1,233%!

The company has now expanded its business by adding business areas such as contracting services such as civil engineering, preliminary design, skills development, financial consulting and planning services.

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The company has developed, developed and manages SAB Mall in Noida. The mall was designed by world-renowned contractor Hafeez.

Yesterday, the company’s shares surged 5% to a 52-week high of ₹55.90, but later pared the gains to fall 5%.

On the bright side, they offer great potential for growth. It is not unusual for a good penny to change in a few months. But the other side is very dangerous.

Not all stocks are generally good. For this reason, penny stocks are not recommended for those with a low level of risk.

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You also need a very strong frame to separate the men from the boys in the penny-pinching universe. A plan that allows you to get into the right stocks at the right price, but also helps you avoid big losses.

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Sign up for our newsletter now. If you do not receive an email from us, please check your spam folder. Investors are often advised to follow a “buy and forget” strategy in order to benefit from long-term wealth creation and not be intimidated by temporary periods of uncertainty. To achieve their financial goals, investors generally prefer to invest in blue-chip companies that guarantee regular earnings and capital gains. However, investors can also buy multibagger penny stocks, which generate high profits in the short term while diversifying their games.

So with this aim we are going to explain what penny stocks are and what are the best stocks you can buy in India.

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By penny stocks, we mean stocks that are traded at very low prices on the stock market. Some assumptions that the stock will be priced below Rs. 50 can be described as penny stocks. Penny coins are usually mint and have a low market capitalization.

Since investors generally do not have much knowledge about the fundamentals of penny stocks, traders may prefer to consider penny stocks, which leads to high levels of uncertainty. Despite the increased risks, penny stocks have the potential to generate significant returns for their investments.

Below is a list of some of the stocks available to buy now that can turn into pennies in India.

Vodafone Idea, commonly abbreviated as Vi, is an Indian telecom operator formed through a joint venture between Aditya Birla Group and Vodafone Group. It offers voice and data services on 2G, 3G, 4G and 4G+ platforms. The current trading price is rising to Rs. 9.75, which is close to the 52-week low of Rs. 7.75.

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Vodafone’s share price has risen 12% in the past month and has returned more than 80% in the last 3 years. Although Vodafone’s share price has posted negative returns YTD from widening losses from gaming, its prospects are expected to improve once the board approves the conversion of Vi’s AGR payout to equity.

Headquartered in Pune, Suzlon Energy is an Indian multinational wind turbine manufacturer. Suzlon Energy has been providing its customers with a 360-degree solution package covering all types of wind power projects to its customers since 1995.

The share price of Suzlon is currently less than Rs. 10 and its 52 week high and low price is Rs. 13.10 and Rs. 5.90 respectively. The share is highly speculative and has returned 21% in the past month. In the last year, Suzlon’s share price has increased by more than 40%. Suzlon’s return for the last 3 years is around 190%.

Another stock to buy is Alok Industries, India’s largest fully integrated textile company. Its specialty is cotton and polyester components.

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Alok Industries is currently valued at Rs. 8:30 p.m. The share price of Alok Industries hit a 52-week high of Rs. 35.80. That’s a lot of stocks that have returned over 745% over the past three years. Alok Industries’ top-grossing stock has risen 4% in the past month.

This Chennai-based coal trader was initially incorporated as an NBFC. However, its certificate was revoked in 2015 and since then Hemang Resources has been operating in the coal and construction business.

Hemang’s share price has returned 1.264% in 2022. In the last year, Hemang’s share price has increased by more than 930%.

Established in 1937, IOB is a national bank under the Ministry of Finance, headquartered in Tamil Nadu. The country owns more than 96 percent of IOB shares. It also has overseas branches in Singapore, Hong Kong, Bangkok and Colombo.

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IOB’s share price has increased more than 9% in the past month, an improvement of more than 14% in the last 3 months. The stock is really stable and has returned almost 91% in the last 3 years.

Although penny stocks have the potential to turn into huge portfolios, this increased potential for return comes with significant risks. Here are a few things to consider before deciding to invest in penny stocks.

Penny stocks are highly volatile and underperforming. Therefore, instead of having a large exposure to a certain penny, you should consider diversifying your stocks into several stocks.

This means that you first decide how much to allocate to high-risk penny stocks, and then divide that investment amount among different stocks.

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Filter penny stocks based on their fundamentals and prices. You should choose to invest in penny stocks at low prices to minimize losses while increasing your chances of breaking even.

The above mentioned list of best penny stocks to buy in India is not exhaustive and indicative in nature. Penny stock investments should not be the mainstay of your portfolio. Instead, you should not give more than 2-3 percent

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