Penny Stocks Priced Below Rs. 10 Turned Multibaggers In Just A Month

Penny Stocks though believed to be high on risk are also known to offer stupendous return in small time if the fundamentals hold good. But to find such a stock can be daunting and indeed is not an easy exercise. So, here are some of the stocks that are low on price and have turned multibagger in just a short span:

Supremex Shine Steels:

Previously called ICVL Steels the company is involved in the trading of steel and acts as consultant on all complications pertaining to steel industry. The scrip in trade on January 3, 2022 has hit upper circuit price of Rs. 11.82. Coming to its financials, the debt free company saw a decline in revenue in Fy21.And last for the September quarter of Fy22, the company has reported a higher loss at Rs. 0.04 crore.

SRM Energy:

Previously called Hitkari Fibres, the company is into power generation. SRM Energy is the merged entity of SRM Energy Private Ltd. with Hitkari Fibres Ltd. Important accolade is the ownership by UTI ULIP fund for over several years at over 3 percent.

Vegetable Products:

The company incorporated in the year 1953 started off with manufacturing of vegetable edible oil products under the "PRATAP VANASPATI" brand name. The company's products are well recognised in West Bengal and other states.

The stock in trade on January 3, 2022 has hit a upper circuit. Coming to its financials, the company has reported loss for the September ended quarter and over a period of time has also increased is debt to 0.41. Other metrics are the company trades at 4.21 times its book value. Promoter holding is low at just over 24 percent and a low return of equity.

Indian Infotech And Software Ltd:

Incorporated as 'Indian Leasers Limited' on May 22 1982 is registered with RBI as an NBFC firm. The company is involved in the business of financing & investment and training on computer technology and its related activities. The firm's scrip is listed on BSE.

This is another debt free stock with low promoter holding of 19.28 percent. Also the company has delivered a poor sales growth of -36.53% over past five years.

 

Visagar Financial Services:

The NBFC company is locked in upper price circuit today and has the following drawbacks including low RoE of -1.62 percent for last 3 year. The company's promoter holding has also been low at 5.34%. The company's financials however have improved with revenue at Rs 66 crore in Fy 21.

Also for the September quarter, the company posted net profit as against net loss for the last 3 quarters.

Penny stocks below Rs. 10 that delivered multibagger returns

 

Penny stock	Industry	Price as on December 3, 2021	LTP as on January 3, 2022	1-month return	1-year return
Supremex Shine Steels	Steel	Rs. 5.9	Rs. 11.82	100.34%	372.80%
SRM Energy	Power	Rs. 4.92	Rs. 8.75	126.00%	290.60%
Vegetable Products	Edible Oil	Rs. 9.27	Rs. 25.7	177.00%	1032.00%
Indian Infotech	NBFC	Rs 4.33	Rs. 8.85	104.00%	2582.00%
Visagar Financial Services	Finance	Rs. 3.23	Rs. 8.79	172.00%	1232.00%

Penny stocks - Should you go for them?

Penny stock can be a delight to add if it has the potential to reap good returns as in a small amount, you can bag a good quantum of its stock. Nonetheless, be mindful of few pointers such as pick only those penny stocks with good fundamentals and volume, don't add too many of such stocks just 2 or 3 penny stocks will be good, don't try to average out your penny stock purchase and last but not the least do make it a point to keep a close watch on your penny stock portfolio.

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