Penny Stocks: Accel India gains 172 per cent in one month

Individual investors have shown tremendous interest in the penny stocks in 2020 as the risk-on mood was seen in the markets since its crashing in March. The buying trend in penny stocks is a global phenomenon.

Accel India is just one of the penny stocks that have done well in the past one month. The stock has delivered an eye-popping return in less than one month by clocking 172 per cent gains.

Accel India is a company listed on BSE. It began its journey in the year 1991 as a vendor of an independent IT services company and is headquartered in Chennai (Tamil Nadu).

Recently, the company acquired Ensure Support Services (India) Limited, a wholly-owned subsidiary of an MNC-Redington (India) Limited, having a network at 80 locations with a turnover of Rs 105 crore, an EBITDA of 10 per cent and PBT of 6 per cent.

The company has exposure in realty business as well as in media and IT services. The group’s latest foray focusses on opportunities in the real estate infrastructure.