Multibagger penny stocks 2023: Investing in penny stocks is risky but if you chose using your wit and grit properly, you can achieve massive return in quick time. However, it is also important to acknowledge that most of the penny stocks are low float in nature and they can swing either side on a single trigger. But, still a good number of stock market investors with high-risk appetite invest in penny stocks expecting whopping gains in small time.
High yield penny stocks in 2023
Here we list out some well known penny stocks that have delivered massive multibagger returns in 2023:
1] Vodafone Idea: Share price of this penny stock has risen from around ₹8 to ₹16, delivering 100 per cent return to its positional investors in 2023. This multibagger penny stock bottomned out at ₹5.80 apiece levels on NSE at the end of March 2023 and gave sharp upside movement in current financial year. In FY24, Vodafone Idea shares have risen from ₹5.80 to ₹16 apiece levels, delivering to the tune of 175 per cent in the financial year 2023-24.
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2] Reliance Power: Shares of this Anil Ambani-backed company remained under sell off pressure after ushering in 2023. However, it bottomed out at ₹9.15 apiece levels on NSE at the end of March 2023. In FY24, Reliance Power shares gave sharp upside movement and ended at ₹23.30 apiece levels on last trade session of the year. so, this stock is one of the multibagger penny stocks that Indian stock market has delivered in FY24. This Anil Ambani-backed penny stock has delivered over 150 per cent return in FY 2023-24. However, due to selling pressure in first three months of 2023, net return of the penny stock falls around 60 per cent in YTD time.
3] Mauria Udyog: Shares of this penny stock ended at ₹10.23 apiece levels on BSE on last trade session of 2023. This penny stock surged from ₹3.67 to ₹10.23 apiece levels in YTD time, giving 180 per cent return in 2023. However, the multibagger penny stock remained an ideal sell on rise stock since September 2023. But, it has remained above ₹8.89 levels since November 2023 and signaling to come out of the base building mode for the last two months.
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4] Comfort Intech: Share price of this small-cap stock has surged from ₹2.69 to ₹9.38 apiece levels on BSE, delivering multibagger 250 per cent return in the year 2023. The multibagger penny stock has given over 100 per cent return in last six months whereas in last one month, it has risen near 20 per cent. It has a market cap of ₹300 crore and its 52-week high is ₹10.17 apiece levels on BSE.
5] Vivanta Industries: Shares of this small-cap company surged from ₹1.63 to ₹4.52 apiece levels on BSE, delivering to the tune of 175 per cent in YTD time. so, it is one of the multibagger penny stocks that Indian stock market has delivered in 2023. Its 552-week high is 6.93 per share and its 52-week low is ₹1.52 apiece.
6] BSEL Algo: Share price of this penny stock has risen from ₹4.76 to ₹16.20 per share levels, ascending to the tune of 240 per cent in YTD. 52-week high of this multibagger penny stock is 17.67 whereas 52-week low of this penny stock is 4.34 apiece.
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7] Kenvi Jewels: This jewellery stock has risen from 4.06 to ₹8.30 per share levels on BSE, logging near 105 per cent rise in YTD time. Its 52-week high is ₹15.70 while its 52-week low is ₹3.80 apiece. It ended on Friday with a market cap of ₹105 crore.
8] Tarini International: This multibagger penny stock has ascended from ₹4.95 per share to ₹11.41 per share levels on BSE in year-to-date time. This penny stock has delivered 130 per cent return to its long term investors. It ended on Friday with a market cap of ₹15 crore. Its 52-week high is ₹18.28 while its 52-week low is ₹4.11 per share.
9] Suzlon Energy: Share price of this energy stock has risen from ₹10.75 to ₹38.20 apiece levels in the year 2023. So, this is one of the multibagger penny stocks that Dalal Street has delivered in YTD time. In 2023, Suzlon share price has ascended over 250 per cent. It made 52-week high of ₹44 on NSE whereas its 52-week low is ₹6.95 apiece. It ended on Friday with a market cap of ₹51,810 crore.
10] Tatia Global Vennture: Share price of this penny stock has risen from ₹1.42 to ₹3.07 apiece levels, delivering over 150 per cent return to its shareholders in 2023. So, this stock is one of the multibagger stocks of Indian markets. It ended on Friday with a market cap of ₹46.55 crore. Its 52-week high is ₹3.33 and its its 52-week low is ₹0.86 apiece.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Published: 30 Dec 2023, 03:45 PM IST