Penny stocks have completely changed the overview of investing. The share market today has seen a lot of changes. Earlier investment was considered to have low risks, higher trading value, huge market capitalization, etc. But these penny stocks have shown otherwise. Penny stocks are those stocks where the trading value can be as low as Rs 10. While they do offer a higher return value, they do come with their risks. It is important to understand these risks before investing. There are multiple strong penny stocks that have shown promising results. It could be a little confusing to make a decision.
To help you understand better, here are the top 5 penny stocks you could invest in 2023
This stock is associated with reliance capital. They provide a wide range of loan solutions which include home loans, loans against property, etc. The current share price of this stock is as low as Rs 2. The share price stands still at Rs 100. It has been the same in the past 6 years when it was initially traded. It is a good penny investment at the moment.
This group was separated from its former founder nine years ago. The group has been active ever since. The group has built thermal power plants in areas like Nashik and Amravati. The stock has a price of Rs. 5. It has a very attractive price point at the moment.
This is another group that promises good returns. The products from this group are used in multiple sectors such as infrastructure, construction, commercial projects, etc. They did hit their all-time highest point in the middle of 2021 but lost almost 90% of its value since then. Their current price is Rs. 1.5.
It has been over 30 years since this company was originally formed. It did go through many challenges and changed its name back in 2011. They are currently registered with the RBI and are playing an important role in the engagement of investing. Their focus lies in investing in listed and unlisted companies. They do have a promising portfolio. Their share price is at Rs. 1.18.
This group covers vast areas involved in agriculture, automotive, medical devices, infrastructure, and much more. This company started 40 years ago and is still going well. It markets its products under various names. Their price is currently Rs. 3. It has shown signs of good returns.
Before investing in these groups, it is important to understand a few details. They do have a high-risk value. Therefore, you would need to have a good reason to invest in them. There are investors who also prefer to invest in the 52-week low stocks. As they also have a good chance of becoming profitable over time. Regardless, you would need to do thorough research and invest in stocks that suit you the best.
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