Stock Below Rs 1 Outperforms Suzlon by 86%: This Multibagger Penny Stock Trades at a Low PE

Its multibagger returns of 380 per cent over the past year, outpacing even the stellar 294.81 per cent returns delivered by Suzlon Energy.

On Friday, the bulls made a powerful comeback on Dalal Street, with key indices registering their best closing since August 5, 2024. The NSE benchmark Nifty50 index surged past the 24,500 mark, reflecting renewed investor confidence. This resurgence was driven by a series of positive economic indicators from the United States, including data on inflation, jobless claims, and retail sales, all of which pointed towards a resilient economy. These developments suggest that the US Federal Reserve might achieve a soft landing, steering the world's largest economy away from the threat of recession.

All sectoral indices closed the day with strong gains, led by the information technology, automobile, banking, metal, and real estate sectors, which saw increases of 1.5 to 3 per cent. The buying momentum extended to the broader market, with the Smallcap and Midcap indices each climbing nearly 2 per cent.

Among the Top Gainers was Suzlon Energy, one of India's leading renewable energy companies. Suzlon's shares staged a robust recovery from the day's lows, closing up 4.14 per cent on Friday. However, another stock managed to outperform Suzlon Energy—a penny stock priced below Re 1. Monotype India Ltd., a lesser-known name, saw its share price surge 4.4 per cent, closing at Rs 0.96 per share on the BSE. Despite its low price, the stock trades at a price-to-earnings (PE) ratio of 12.4x and boasts an impressive return on capital employed (ROCE) of 438 per cent.

The most intriguing aspect of Monotype India Ltd.'s performance is its multibagger returns of 380 per cent over the past year, outpacing even the stellar 294.81 per cent returns delivered by Suzlon Energy. This significant margin of nearly 86 per cent underscores Monotype India's exceptional performance in the market, highlighting it as a stock worth watching closely.

Disclaimer: The article is for informational purposes only and not investment advice.