Before we see the List Top 5 Best Penny Stocks In India First of All Lets know about What is Penny Stocks?
In western markets, shares that trade below $1 price are usually called penny stocks. But this basket also includes stocks priced under $5.
Penny stocks are highly risky and volatile but some of them also have the potential of turning a small investment into a fortune.
But there is some change in Indian Share market Scenario because $1= 74Rs Approx. So As Per The Indian Stock Market,
Penny Stock are that stock which have value below Rs.10. Penny stocks are those that trade at a very low price, have low market capitalization, are mostly illiquid, and are usually listed on a smaller exchange.
Penny Share are considered highly risky because of lack of liquidity, smaller number of shareholders, large bid-ask spreads and limited disclosure of information.
There are 3 type of Companies As per the Market Capitalization
|Large-cap companies||Mid-cap companies||Small-cap companies|
|Rs. 20,000 Crore or above||Rs. 5,000 Crore – 20,000 Crore||Below Rs. 5,000 Crore|
Penny stocks in India are, therefore, released by companies with market capitalisation lower than Rs. 5,000 Crore.
Top 5 Best Penny Stocks In India
We have found Some Penny stocks which have nearer to Rs.10.
List of Top 5 Best Penny Stocks To Buy Right Now In India
- VODAFONE IDEA LTD
- TRIDENT LIMITED (TRIDENT)
- URJA GLOBAL LIMITED
- Yes Bank
- South Indian Bank
- Bonus Share
Let’s Have Detail Information of Above Shares:
1. VODAFONE IDEA LTD (NSE: IDEA)
Current Price: Rs. 9.40. It is very reputed telecom company in India. If you want to invest in telecom sector then VODAFONE IDEA is the best penny stocks for investing. Vodafone Idea Share Next target is Rs.13. It Can be multi bagger share for long term.
2. TRIDENT LIMITED (TRIDENT)
Current Price: Rs. 14.20. Trident Group is a dynamic and continuously growing group of companies creating a buoyant economic climate.
The group is focused on generating economic prosperity for the stakeholders, while growing harmoniously with the community and environment.
Leveraging business from an expanding product portfolio, Trident Limited, the flagship company of the group, is one among the top 5 global terry towel giants of the world.
3. URJA GLOBAL LIMITED
Current Price: Rs. 6.45. Urja Global Limited is in one of India’s leading Renewable Energy developers and operators.
4. Yes Bank
Current Price: Rs. 15.55. I think it is best share in banking sector for lower price share. Once It is a part of Nifty 50, due to some internal issue it is removed from Nifty 50. But fundamentals are very good and banking sector is always profitable share. It can be multi bagger share in comming years.
5. South Indian Bank
Current Price: Rs. 8.50. It is also a good Penny stocks of banking sector in India.
6. 3i infotech
Current Price: Rs 7.85. It is also good penny stock of IT sector in India. 3i Infotech may become a multibagger stock for coming years because of current pandemic, IT sector is booming. IT is the future for upcoming business.