Top ten penny stocks that gained up to 82 per cent in May 2022

Kore Foods, Zenith Steel Pipes & Industries, and RSC International have rewarded investors with more than 50 per cent returns for May 2022.

The markets depicted a substantial amount of volatility in a month which was full of surprises i.e. in May 2022. The major event in early May was the unscheduled MPC meet called by RBI amidst rising inflation. It ended up hiking repo rates by 40 bps and CRR by 50 bps. Both the benchmark indices i.e. Sensex and Nifty closed the month on a lower note. The broader markets also ended the month on a tepid note. On the sectoral front, the sectors which shone despite heavy selling were autos and FMCG whereas the one that faced a big pressure point was the metal sector. 

During the month, the volatility index i.e. India VIX climbed up to 26 per cent before closing 0.99 per cent higher on May 31, 2022. While the other category of stocks made investors cheer as well as stay cautious throughout the month, some traders opted to trade at the lesser-known counters. The favoured stocks of retailers namely, Penny Stocks delivered returns up to 82 per cent in a single month. Kore Foods, Zenith Steel Pipes & Industries, and RSC International have rewarded investors with more than 50 per cent returns for May 2022.  

In the following table, we have identified the top 10 penny stocks for the month of May 2022. Have a look: