What are the best penny stocks to buy in 2024?
Just like mid and large cap stocks, there is no limit to how high a penny stock can go. Many massive, well-established companies were once trading for less than $5 per share.
| Stock | 2024 return through March 31 |
|---|---|
| Arcutis Biotherapeutics Inc. (ARQT) | 206.8% |
| Janux Therapeutics Inc. (JANX) | 250.9% |
| Trump Media & Technology Group Corp. (DJT) | 254.1% |
| Super Micro Computer Inc. (SMCI) | 255.3% |
- Sunshine Capital Ltd.
- Standard Capital Markets Ltd.
- G G Engineering Ltd.
- Globe Textiles (India) Ltd.
- Growington Ventures India Ltd.
- Aakash Exploration Services Ltd.
- Debock Industries Ltd.
- Kenvi Jewels Ltd.
| Name | Price | 1 Month % |
|---|---|---|
| SPCB SuperCom | $0.34 | +143.90% |
| DYNT Dynatronics | $0.52 | -14.35% |
| PRZO ParaZero Technologies Ltd. | $0.83 | +22.89% |
| BTBT Bit Digital | $1.79 | -17.65% |
| Name | Price | 3Y Return |
|---|---|---|
| Sunshine Capital Ltd | ₹3.58 | 4771.43% |
| Comfort Intech Ltd | ₹9.98 | 867.65% |
| Nila Spaces Ltd | ₹8.10 | 474.07% |
| JCT Ltd | ₹2.94 | 222.34% |
- SoundHound AI and Sweetgreen are up 174% and 116% so far in 2024.
- SoundHouse AI is seeing its platform for conversational intelligence explode in popularity.
- Sweetgreen has quadrupled over the past year, but it's still a broken IPO with potential to harvest.
| S.No. | Name | 1mth return % |
|---|---|---|
| 1. | Hindustan Zinc | 38.41 |
| 2. | Lloyds Metals | 26.28 |
| 3. | NMDC | 16.74 |
| 4. | Apar Inds. | 15.58 |
- Vikas Ecotech Ltd.
- Comfort Intech Ltd.
- Rajnandini Metal Ltd.
- G G Engineering Ltd.
- Indian Infotech & Software Ltd.
- Genpharmasec Ltd.
- Accuracy Shipping Ltd.
- Goyal Aluminiums Ltd.
Just like mid and large cap stocks, there is no limit to how high a penny stock can go. Many massive, well-established companies were once trading for less than $5 per share.
Penny stocks come with high risks and the potential for above-average returns, and investing in them requires care and caution. Because of their inherent risks, few full-service brokerages even offer penny stocks to their clients.
What are the 10 best penny stocks to buy?
| Company Name | LTP | Market Cap (in Cr) |
|---|---|---|
| Ankit Metal & Power Ltd | 4.45 | 59.97 |
| Cerebra Integrated Technologies Ltd | 7.8 | 90.28 |
| Rollatainers Ltd | 2.3 | 55.03 |
| McNally Bharat Engineering Company Ltd | 4.65 | 94.15 |
"Red hot penny stocks" - perhaps the most common example - is used by tipsters to indicate they have identified cheap stocks which they believe will very shortly increase dramatically in value.
Some professionals recommend that you devote no more than 10% of your individual stock holdings to penny stocks. It's also important to understand your risk tolerance. Generally speaking, the higher your risk tolerance, the more equipped you are to take on the risk that can come with investing in penny stocks.
- Taparia Tools Ltd. Castings, Forgings & Fastners.
- M Lakhamsi Industries Ltd. Trading.
- Comfort Intech Ltd. Alcoholic Beverages.
- Vivanta Industries Ltd. Miscellaneous.
- Family Care Hospitals Ltd. Healthcare.
Study the underlying company
Too often penny stock traders are making their picks based on technical signals and forget about the underlying company. Look for solid earnings patterns and companies making new highs that are paired with strong fundamentals.
Indian Railway Finance Corporation (IRFC): This finance sector PSU stock is the biggest gainer in the BSE 500 index. IRFC's share price surged 76% to Rs 175 on January 31 from Rs 99.3 a month ago. It has a current market capitalisation (m-cap) of Rs. 2.29 lakh crore.
| Ticker | Company | Sector |
|---|---|---|
| CLRO | ClearOne Inc. | Information Technology |
| NCMI | National CineMedia Inc. | Communication Services |
| NFE | New Fortress Energy Inc. | Utilities |
| SQFT | Presidio Property Trust Inc. | Real Estate |
| S.No. | Name | NP Qtr Rs.Cr. |
|---|---|---|
| 1. | Jai Balaji Inds. | 234.60 |
| 2. | Waaree Renewab. | 64.46 |
| 3. | Insolation Ener | 15.04 |
| 4. | SG Mart | 33.65 |
| Sr. No | Company Name | NSE Symbol |
|---|---|---|
| 1 | NESCO | NESCO |
| 2 | Sudarshan Chemical Industries | SUDARSCHEM |
| 3 | EIH Ltd | EIHOTEL |
| 4 | Kalyan Jewellers Ltd | KALYANKJIL |
- Coca-Cola. (NASDAQ: KO) ...
- Altria. (NASDAQ: MO) ...
- Amazon.com. (NASDAQ: AMZN) ...
- Celgene. (NASDAQ: CELG) ...
- Apple. (NASDAQ: AAPL) ...
- Alphabet. (NASDAQ:GOOG) ...
- Gilead Sciences. (NASDAQ: GILD) ...
- Microsoft. (NASDAQ: MSFT)
Which stock to buy for next 3 months?
| Name | LTP | Change(3-month%) |
|---|---|---|
| Cummins India Ltd. | 3038.3 | 45.8% |
| Vedanta Ltd. | 386.0 | 45.7% |
| Oil India Ltd. | 599.9 | 42.8% |
| KSB Ltd. | 4656.5 | 42.7% |
Zydus Lifesciences, Mankind Pharma, Bosch, Jindal Stainless, Oberoi Realty, Phoenix Mills, Sundaram Finance, and PB Fintech are among 17 stocks that are likely to be included in the MSCI Standard index during the May 2024 index reconfiguration, according to estimates by IIFL Alternative Research.
Penny stocks are those companies that trade at share prices often less than $1. Penny stocks often trade off the major market exchanges because the big stock exchanges, such as NYSE and Nasdaq, have listing requirements which must be met, among them a minimum share price.
- 1] MCX: Buy at ₹3900, target ₹4050, stop loss ₹3840. We have seen a major support in MCX share price is around ₹3840. ...
- 2] HCL Tech: Buy at ₹1468, target ₹1520, stop loss ₹1440. ...
- 3] RCF: Buy at ₹145, target ₹152, stop loss ₹138.
- Reliance Industries. With a market capitalisation of ₹19,91,203 crore (as on 19th February 2024), Reliance Industries Limited is the biggest stock in Indian markets. ...
- Tata Consultancy Services (TCS) ...
- HDFC Bank. ...
- ICICI Bank. ...
- Infosys.
