Top 10 Penny Stocks in India: Due to the significant market volatility, investors are also losing interest in the most popular stock category, Penny Stocks. Due to their high level of volatility, penny stocks have the potential to significantly increase or decrease your portfolio’s value. Here the list of the Top 10 Penny Stocks to buy in India in 2022.
The stock market offers a wide range of options for your money to increase in value. There are numerous instruments available that you can trade with and profit from. Experts typically advise planning for long-term profits and making appropriate investments. You can invest in high-quality stocks and other types of investment vehicles to create a strong portfolio and, over time, a healthy corpus. Additionally, you might try to play with those parts of the market that can quickly multiply your returns.
Investing in Penny Stocks has a number of advantages:
Penny stocks carry the potential to offer manifold returns in a short period of time
2- Low liquidity and high volatility
Key dangers related to penny stocks include little liquidity and extreme volatility.
3- Chances of profiting
You may also improve your chances of profiting from penny stocks by using a sound investment strategy and risk management.
4- Small part of your capital
It’s crucial to diversify when purchasing penny stocks and spend just a modest portion of your money on penny stocks.
Here are Top 10 Penny Stocks in India
|Sr. No.||Company Name||CMP – NSE (15 July 2021)|
|1||South Indian Bank Ltd||Rs. 7.80|
|2||VODAFONE IDEA LTD||Rs. 8.75|
|3||JCT Ltd||Rs. 3.05|
|4||Suzlon Energy Ltd||Rs. 6.30|
|5||Jaiprakash Power Ventures Ltd||Rs. 6.30|
|6||Shree Global Tradefin Ltd||Rs. 8.10|
|7||Prismx Global Ventures Ltd||Rs. 5.10|
|8||Syncom Formulations (India) Ltd||Rs. 8.05|
|9||IL & FS Investment Managers Ltd||Rs. 6.20|
|10||Mangalam Industrial Finance Ltd||Rs. 4.08|
One of South India’s oldest banks The Swadeshi movement gave rise to the South Indian Bank SIB. The South Indian Bank Limited was established as a private limited company in Thrissur on January 29, 1929, and changed its status to a public limited company on August 11, 1939. In order to give the populace a reliable, effective, and service-oriented repository for community savings on the one hand, and to release the business community from the grasp of greedy moneylenders on the other, SIB was founded in Thrissur by a group of enterprising men. Need-based credit was offered at reasonable rates of interest.
In addition to Treasury and Foreign Exchange Business, SIB offers retail and corporate banking services, as well as parabanking activities like the sale of debit cards to third parties. The Bank had a nationwide network of 877 Branches and 1443 ATMs as of December 31, 2020. The bank established its first branch outside of Kerala in Coimbatore in 1941. In accordance with the RBI Act, SIB was the first private sector bank in Kerala to be designated as a scheduled bank. The Ambat Bank Pvt Ltd Chittur Kerala and Kshemavilasam Banking Company Ltd’s assets and liabilities were acquired by the bank in 1963.
1964 was a significant year in the history of SIB. The bank had purchased eleven banks in its own right in 1964, including Public Bank Ltd and Suburban Bank Pvt Ltd. Incorporated Vijalakshmi Bank Chakrady Bank Limited Metropolitan Catholic Bank, Ltd. Incorporated, Assyrian Charities Banking Kozhuvanal Bank Ltd., Malabar Bank Ltd., Bharata Union Bank Ltd., and the Catholic Syrian Christian Bank Ltd. In 1990, SIB entered the commercial banking industry by supporting/underwriting 99 new issues.
2 – VODAFONE IDEA LTD
Another notable business that is recommended on the list of the top 10 penny stocks in India is Vi or Vodafone Idea Limited. It is a pan-India integrated GSM operator with offices in Mumbai and Gandhinagar that provides services in the 2G, 3G, 4G, 4G+, VoLTE, and VoWiFi bands.
Vi has 269.03 million subscribers as on the statistics collected up to October 31, 2021. As a result, it ranks as the third-largest mobile communications network in India and the tenth-largest mobile communications network worldwide. Vodafone and Idea cellular amalgamated on August 31, 2018, forming Vodafone Idea Limited.
3 – JCT Ltd
JCT was rebranded in 1989 after being incorporated in 1946 as Jagatjit Cotton Textile Mills. M M Thapar, the chairman and managing director, promoted the business. The corporation is involved in the textile, steel, and export trade industries. Gupta Syal Chohal Investments, Poly Investments, and JCT Fibres are all subsidiaries of JCT. In order to establish a nylon6 filament yarn production in Hoshiarpur, Punjab, JCT engaged into a technological partnership with Zimmers Germany in the years 1980–1981. The facility was commissioned in 1982. Additionally, a technical agreement was made to establish a PSF factory with E I Dupont US.
JCT merged with Sterling Steels Wires and Kidarnath Kishanchand P Ltd in 1990. In April 1994, one of the JCT Fibres subsidiaries merged with JCT. With the Indonesian Polysindo Group, the company engaged into a slump sale agreement in 1998 to sell off its failing synthetic fibre business. Additionally, throughout the year, it put into operation its well-received Wire Rope facility. It raised the installed capacity of partially oriented polyester staple fibre, steel wire strand wires, wire rope, and partially synthetic filament yarn in 1999 to 9000 tonnes, 6000 tonnes, 13500 tonnes, 45000 tonnes, 3000 tonnes, and 16500 tonnes, respectively.
22 Airjet looms have taken the place of 120 NMM looms in the textile division’s Phargwara facility. This will unquestionably lower production costs and raise fabric quality.
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4 – Suzlon Energy Ltd
The largest provider of renewable energy solutions in India is Suzlon Energy Limited SEL, which has operations in 17 nations on six continents.
The company’s commercial activities include the design, development, manufacture, and supply of wind turbine generators (WTGs) of various capacities and their parts.
Their business focuses on the sale of WTGs and related activities such as the leasing or selling of land, the sale of gearboxes, and the sale of foundry and forging parts.
With a wide range of services to build and maintain the projects, including design supply installation commissioning of the project and specialised life cycle asset management services, Suzlon has a significant presence throughout the whole wind value chain.
The Company had 54 subsidiaries as of March 31, 2018, and 1 joint venture.
With approximately 11.9 GW of installed capacity and 17.9 GW deployed globally spanning 17 countries in Asia, Australia, Europe, Africa, and the Americas, Suzlon Group is the market leader in India.
The company operates three Nacelle factories in India and one joint venture in China, with a total installed manufacturing capacity of 4200 MW wind turbine generators.
Incorporated in 2006, Suzlon Energy’s fully owned subsidiary SE Forge has an annual forging capacity of 42,000 rings and a capability for 120000 metric tonnes of unmachined casting and 55000 metric tonnes of machining.
The custodian of over 11.9 GW of wind assets in India makes Suzlon Global Services Limited SGSL the second largest operations and maintenance firm with over 8000 turbines in the Indian power sector. SGSL is a completely owned subsidiary of Suzlon Energy. The Group also has 4GW or so of operational wind assets outside of India.
5 – Jaiprakash Power Ventures Ltd
The 300 MW BaspaII Hydroelectric Project in Himachal Pradesh’s District Kinnaur is owned and run by Jaiprakash HydroPower Limited, which is a subsidiary of the Jaypee Group. In November 1991, the former Jaiprakash Industries Limited JIL, the project’s promoter company that has since merged with Jaypee Cement Limited JCL to become Jaiprakash Associates Limited JAL, signed a Memorandum of Understanding with the Government of Himachal Pradesh GoHP for the development of the 300 MW Baspa Stage II Hydroelectric Project in the Private Sector on a Build Own and Operate Basis.
In order to establish hydroelectric or thermal power projects and to supply general electric power, the Company was established on December 21st, 1994. The Certificate of Business Initiation was issued on January 9th, 1995. In March of 1995, financial institutions gave their approval for the project, with an estimated project cost of Rs. 11.020 million. One of the predisbursement requirements was the signing of the PPA. In 1995, JHPL, JAL, and GoHP signed a tripartite agreement approving the transfer of all assets, liabilities, obligations, privileges, and benefits resulting from the MOU from JAL to JHPL.
The company signed a PPA with HPSEB in June 1997 in accordance with an Implementation Agreement with GoHP. The project was reassessed by the financial institutions the same year, with a revised cost of Rs. 12 630 million. JHPL amended the PPA in January 2008 to incorporate clauses relating to an escrow mechanism and a letter of credit for the purpose of realising payment from HPSEB.
6 – Shree Global Tradefin Ltd
India is the country where Shree Global Tradefin Ltd is headquartered. The corporation deals in the trade of steel-related goods. In addition to hot rolled plate and MS beam, they also produce cold rolled steel sheet, mild steel MS channel, MS angle, and hot rolled HR coils. Bensons Steels Ltd. was the name under which Shree Global Tradefin Ltd. was formed on October 15, 1986 in Mumbai.
The company acquired the certificate for the start of operation on November 10, 1986. The company was renamed Shree Global Tradefin Ltd. on October 24, 1996. By way of acquisition, the company purchased the bulk of the equity share capital of Harold International Ltd, Sanford Steel Pvt Ltd, and Salvador Steel Pvt Ltd in September 2005, transforming all three businesses into wholly owned subsidiaries. The company sold all of its shares in Revive Buildzone and Dealers Pvt Ltd. in April 2009.
As a result, the company’s subsidiary Revive Buildzone and Dealers Pvt Ltd was no more. The business intended to buy stock in Lloyds Steel Industries Ltd.
7 – Prismx Global Ventures Ltd
Global Ventures Prismx Limited A current public limited business, Gromo Trade Consultancy Limited was established on January 15, 1973. The business trades textiles, along with other commodities and financial services. According to Section 42 of the Companies Act 2013, the company allocated 5200000 equity shares worth Rs. 10 each on June 24, 2014, on a preferential basis to promoters and nonpromoters for Rs. 25 each, including premium of Rs. 15, for which the company received approval from its members at its annual general meeting held on June 14.
In order to take advantage of better infrastructure and a pleasant environment, the company’s registered office was moved from 306 Dalamal Chambers Behind Aayakar Bhavan New Marine Lines Mumbai400020 to B/411 Crystal Plaza New Link Road Opp. to Infinity Mall Andheri West Mumbai400053 as of May 15, 2014. The Company was originally incorporated with the primary purpose of conducting business in finance and associated activities, as the Company’s members are aware. However, as per Section 45IA of the Reserve Bank of India Act 1949, the Company does not possess a current Certificate of Registration from the RBI. In order to make up for said default, the company changed its focus from finance to consulting and trade.
Managed to produce more than $50 in revenue during the year under review; these funds were from the selling of fabric and textiles. On March 24, 2015, the Company’s members gave their approval for the measure via postal ballot. Since the management had changed the focus of its enterprise from finance to trade and consulting. In order to make sure that the name of the company accurately describes the type of business it conducts, the board of directors proposed changing the name of the company from M/s. Kamalakshi Finance Corporation Limited to M/s. Gromo Trade Consultancy Limited. This proposal was put to the members of the company for approval via postal ballot.
According to order no. WTM/RKA/ ISD/ 09/2015, trading in the company’s equity shares has been suspended from the BSE since February 26th, 2015. In order to take advantage of better infrastructure and workspace, the company moved its registered office during the fiscal year 2016–17 from B/411 Crystal Plaza next to Infinity Mall New Link Road Andheri West Mumbai 400053 to 705 Morya Bluemoon close to Monginis Cake Factory next to Citi Mall Link Road Andheri West Mumbai 400053 as of March 20, 2017.
8 – Syncom Formulations (India) Ltd
Syncom Formulations India was founded in 1988 as a private limited business and changed its status to a public limited company in June 1992. To create pharmaceutical formulations, the business built a factory in Palghar Thane. In April 1989, commercial manufacturing started. Kedarmal Bankda is the promoter. Both Vijay and Ajay Kumar Bankdas. In addition to producing injectables and ear/eye drops under a loan licence, the company also produces pharmaceutical formulations in the form of tablets, capsules, liquids, and dry powders.
The company began an expansion drive in 1994 by building a new facility in Pithampur, Madhya Pradesh, to produce pharmaceutical formulations. The project was finished in 1995 after being funded by a public issue that was launched in January 1994. The company expanded its diversification into ethical operations in 1997–1998 by providing a variety of prescription formulations. There has been a significant increase in installed capacity and production base during 1998–1999. The business also intends to launch items under its generic OTC and ethical divisions. Additionally, the export revenues have increased by more than 100. A higher turnover is anticipated for the year as a result of the company and its affiliates receiving export orders worth Rs. 700.00 lacs against advance payment over the years 1999–2000.
Currently, the company sells items to Guine, Ghana, Kenya, Tanzania, Nigeria, Azberjan, Nepal, and Sri Lanka in Asia. The company has received approval as a supplier to Central ESI Hospitals, and registration of defence services is nearly complete, which will lead to a sizable increase in revenues. The company is aggressively manufacturing and promoting its herbal products including Edicare Attom Megacaps Ecziguard and Yas antacid salt in order to take advantage of the changing consumer preferences for using herbal products.
9 – IL & FS Investment Managers Ltd
It was founded in 1989 as Creditcapital Venture Fund India, and as of April 23, 1997, it changed its name to IL FS Venture Corporation. Creditcapital Finance Corporation CFC and Bank of India BOI established it as a joint venture with equity contributions from the Asian Development Bank Manila ADB and Commonwealth Development Corporation London CDC. The International Finance Corporation and the World Bank Group then contributed Rs 137.5 million by subscribing for 12.5 lac equity shares.
With these stockholders, the corporation enjoyed the rare privilege of having two international and one bilateral financial institution. It collaborates on technical support with Lazard Ventures, one of the biggest venture capital firms in the UK. It mostly supports new projects with equity. Its primary goal is to increase the value of its equity assets through the expansion of its portfolio companies and, ultimately, through the exercise of a well outlined disposal option. In 1990, it went public with 34 lac equity shares of Rs 10 apiece, totaling Rs 3.4 cr in cash at par. 12.09 times too many people wanted to buy the issue.
Additionally, it has launched the Information Technology Fund ITF, the first sector-specific fund, with a Rs 10 cr corpus. Industrial Development Bank of India IDBI IFC Washington CVF GIC LIC UTI and a few other members of the IT industry have all contributed to this privately placed fund. The corporation limits its investments in a single company to a maximum of 40 percent of the promoters’ equity and Rs 1 crore, typically through equity participation and conditional loans. Additionally, ideas for two other funds, an autoancillary fund and a south Asian regional apex fund, have been revealed. The AAF is worth Rs 15 crore, and the IFCR has approved participation up to 25% of the corpus in principle.
10 – Mangalam Industrial Finance Ltd
The Companies Act of 1956 allowed for the incorporation of Mangalam Industrial Finance Ltd. MIFL as a public limited company with the name Mangalam Industrial Finance Limited. Later, on March 5, 1983, the business was issued a Certificate for the Start of Business. The Company now engages in NBFC activity in the following sectors: investment and share trading. Securities Trading and Investing in Mutual Funds Business Loans Individual Loans Financing for Trade Financial Services.
This article concludes with listing the top 10 penny stocks in India. Penny stocks are like a fortunate draw ticket, and because the share prices are so volatile, they can change drastically in response to either good or bad news. Good luck with your investments!