Watch out for these multibagger penny stocks below Rs 10 that gave returns up to 670 per cent in fiscal year 2024; do you own any?

Penny Stocks are those that trade at a very low price, have very low market capitalisation, are mostly illiquid, and are usually listed on a smaller exchange.

The benchmark indices ended the trading session in green on the first day of the financial year 2024-2025 with BSE Sensex Index up 0.49 per cent at 74,014.55 and NSE Nity-50 Index up 0.61 per cent at 22,462. The Sensex and Nifty-50 also made a fresh 52-week high at the levels of 74,254.62 and 22,529.95, respectively. Out of the total 4,058 stocks traded, 2,047 shares had advanced, 1,454 declined and 133 were unchanged. 

Penny Stocks are those that trade at a very low price, have very low market capitalisation, are mostly illiquid, and are usually listed on a smaller exchange. Penny stocks in the Indian stock market can have prices below Rs 10. These stocks are very speculative and are considered highly risky because of a lack of liquidity, a smaller number of shareholders, large bid-ask spreads and limited disclosure of information.

1) Blue Chip India Limited was incorporated on June 27, 1985. The Company is mainly engaged in granting loans, & advances and investments in shares & securities. It also assists users in crypto investments because of the several potential benefits of investing in cryptocurrencies.

2) Shekhawati Poly-Yarn Limited, founded in 1990, manufactures Texturizing Yarn, Twisting Yarn and various Knitted Fabrics (including Sarina, Lycra, Bright, Spun Lycra, and Cationic) for both domestic and international markets. Their Polyester Texturized Yarn (PTY) is used to create fabrics for a wide range of applications, from clothing (suiting, shirting, dresses, saris) to household items (hosiery, curtains) and industrial uses.

3) Sarveshwar Foods Limited, incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is a long grain rice with a fine texture.

4) Gujarat Lease Financing Limited (GLFL) was formed in Jul. '83 as a wholly-owned subsidiary of the Gujarat Industrial Investment Corporation (GIIC) to provide financial services for the all-round development of industries in and around Gujarat.

5) Teamo Productions HQ Limited (formerly GI Engineering) has expanded into film and media production, offering a wide range of services from creating movies to animation and music, both in India and internationally.

6) Established in 1995, Innovative Tyres & Tubes Limited is a leading Indian manufacturer of tyres and tubes. They've carved out a niche in the tyre industry by not only producing tires but also the inner tubes that go with them, offering customers a convenient one-stop shop for their tyre needs.

7) SKIL Infrastructure Limited, founded in 1983, focuses on developing private sector infrastructure projects across various sectors including seaports, logistics, railways, defence shipbuilding, special economic zones, and smart cities, utilizing Special Purpose Vehicles for project execution.

8) Incorporated in 1995, Ishan International Limited is engaged in contracting and building projects that focus on supplying machines, erection/installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems.

9) RattanIndia Power Limited is one of India’s largest private power generation companies, with an installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. The company was incorporated in the year 2007 as Sophia Power Company Limited, originally as a part of Indiabulls group. 

10) Established in 1994, Antarctica Limited is a one-stop shop for printing and paper-based packaging and publishing needs, offering a wide range of products from folding cartons and tea bags to printed hard tags, paper cups, books, brochures, labels, and posters, all with in-house binding and finishing for high-quality results.

Following is the list of Penny Stocks that gave multibagger returns upto 670 per cent in the financial year 2023 – 2024:

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