- Date : 08/03/2022
- Read: 3 mins
Read about the top penny stocks you need to watch out for in the stock market.
Penny stocks have earned a reputation for their intense volatility. It is true that they come with a high risk attached. However, you can potentially make a killing by following some investing tips in stocks. If the fundamentals of the company are strong, you can gain a much higher return than average benchmark indices returns.
Here are the top penny stocks of 2021 you need to watch out for:
Digjam Textiles Limited was incorporated in the year 2015 and has been known as a reputed manufacturer of world-class fabrics. The company’s stock price rose from Rs. 4.1 to Rs. 247.45 at the end of December 31, 2021, raking in over 5,935 per cent gains at the market. If you have invested Rs. 10,000 at the start of 2021, then your investment would have been worth Rs. 5,93,500 at the end of the year!
Adinath Textiles Ltd.
Digjam is followed up by Adinath Textiles Ltd., another textile company, which has outperformed the expectations of all market experts by climbing from Rs. 1.71 to Rs. 84.5 just in the year 2021, giving gains of over 4,800 per cent to its investors.
Also Read: How To Pick Winning Penny Stocks?
In third place is a little-known NBFC, TTI Enterprises, which is essentially a microcap firm that invests in mutual funds and other financial products. It rallied from Rs. 1.33 on Dec 31, 2020, to Rs. 62.1 on the same day of 2021, climbing a massive 4,570 per cent.
Gita Renewable Energy Ltd.
Gita Renewable Energy was incorporated in 1956, which deals in power generation from renewable sources. Its stock price rose from Rs. 6.7 to Rs. 241.7 amassing 3,507 per cent gains in 2021, bringing much cheer to its investors.
Also Read: Best Dividend-Paying Penny Stocks In India
This Gujarat-based real estate company comes in the 5th spot by giving a return of 3,245 per cent last year when its stock price jumped from Rs. 9.24 to Rs. 309.1.
Chennai Ferrous Industries Ltd.
Chennai Ferrous Industries Ltd. is a well-known manufacturer of sponge iron products that didn’t disappoint investors. It rallied over 2,723 per cent in the year ending 2021 by rising from Rs. 3.69 to Rs. 104.2 as of December 31, 2021.
If you are keen on investing in penny stocks, make sure to choose companies that have a strong framework. This will help you find the best penny stocks to invest in. Study the share market and learn all you can about penny stocks in India, stock trades, and related topics before taking the plunge.