Penny shares are ownership interests of small publicly traded companies priced under $10 and listed on the securities exchange. As they are not frequently traded stocks, sudden spikes in economic uncertainty often decide their potential profits. It may be dangerous to invest in penny stocks due to their lack of liquidity.
For instance, you may pay a low price for a penny stock but cannot sell it. Some penny stocks lose value as time passes and could even be delisted, which would be a loss. So, it is okay if your investments in penny stocks would result in fantastic gains. Investors should remember that to protect themselves from any dangers related to the tremendous return potential of penny stocks, and they must be diligent in their investigation and diversify the entire portfolio. Other than this If you want to invest in bit coins then you can visit online trading platforms like https://robbo-ai.org/
Top Penny Stocks for Growth
According to a growth model, these are the nation's top penny stocks that award firms based on a 50/50 proportion of their latest earnings YOY percentage sales growth and their latest earnings YOY earnings-per-share (EPS) expansion. Because of this, they are evaluating businesses based on only one growth indicator. It leaves them vulnerable to accounting irregularities of the quarter (including such changes in tax legislation or restructuring charges), which might render one or the other statistic inaccurately indicative of the company's overall performance. Businesses that saw a quarterly increase in EPS or sales of more than 2,500% were eliminated as outliers.
Vodafone Idea
The price of Vodafone shares has increased by 12% over the past month, creating a return of more than 80% over the last three years.
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Suzlon Energy
Since 1995, Suzlon Energy has provided its clients with a comprehensive portfolio of solutions that covers every type of wind energy project.
The entirely speculative stock has gained 21% during the last month. The price of Suzlon shares has increased by more than 40% in the previous year. For the past three years, Suzlon has generated returns of almost 190%.
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Alok Industries
Alok Manufacturing, India's largest highly integrated textile manufacturer, is another mutual fund to purchase.
At the moment, Alok Industries costs Rs. 20.30. This multi-bagger stock has produced an outstanding return of further than 745% during the last three years. In the previous month, the share price of Alok Industries increased by over 4%.
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Hemang Resources
This coal merchant, who is located in Chennai, was first constituted as an NBFC. Hemang Resources has been involved in the coal and infrastructure industries since 2015 when its accreditation was revoked.
The return on the Hemang stock market in 2022 alone defies gravity at 1,264%.
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Indian Overseas Bank (IOB)
IOB, a nationalised bank controlled by the Ministry of Finance and headquartered in Tamil Nadu, was established in 1937. The government owns around 96% of the shares of IOB. Moreover, it has locations abroad in Bangkok, Colombo, Singapore, and Hong Kong.
The IOB share value surged over 9% in the previous month and increased to 14% over the last three months. The stock has performed consistently over the previous three years, returning approximately 91%.
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Things to take into account
It would be best if you thought about the following things before opting to participate in penny stocks.
Investments
In general, equity investments could be more stable and more abundant. So, it would help if you thought about spreading your holdings in several penny stocks rather than getting significant exposure to one penny company.
This means selecting how much of their investment will be assigned to highly-risky junk bonds and then splitting this original investment across different penny stocks.
Cheap Prices
Based on their price and fundamentals, eliminate penny stocks. To reduce losses and increase your chances of achieving windfall gains, you should invest in individual stocks positioned in their lower ranges.
Conclusion :
The list of the top penny stocks to purchase in India shown above is only illustrative and by no means complete. Your portfolio shouldn't be centred on penny stock investments. Therefore, you shouldn't devote more than 2 to 3% of your strategy to risky equities.
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