Indian stock market: These 5 penny stocks have been multibaggers since the start of the year, delivering gains of up to 210%

Indian Stock Market: The domestic stock market has started 2024 on a weak note with the frontline indices showing negative returns so far this year. Benchmark BSE Sensex is down 1.5% year-to-date (YTD) and Nifty 50 is down over 0.4% since early 2024.

The decline in the Indian stock market was mainly due to outflow of foreign institutional investors (FIIs) amid rising US bond yields.

But despite market volatility, some penny stocks have posted impressive gains so far this year. Some of Dalal Street’s penny stocks are up about 100% to 200% in 2024 so far.

Also read: Stock market today: Why the small-cap index crashed more than 1,000 points today — 5 reasons why

best performing penny stocks

Here’s a list of this year’s top rising penny stocks.

1]Svaraj Trading & Agency:This micro-cap stock is up 210% so far in 2024.The stock is traded at INRMarket capitalization of 20.13 each INR29.69 billion for BSE. It hit a 52-week high. INR20.95 as of February 8, 2024. The company is in the business of trading and investing in securities.

This stock is listed under XT category on BSE. This is one of the multi-bagger penny stocks in the Indian stock market, which has delivered nearly 189% returns in the past month, while in the past three months, this multi-bagger penny stock has gained around 212%.

2]Ialum Pharmaceutical: Ahram Pharmaceuticals is engaged in the pharmaceutical business of marketing, trading and distributing a wide range of pharmaceutical formulations, of which approximately 120 products are sold under its own brand name and whose manufacturing is outsourced to third party companies. Masu. party. Apart from pharmaceutical formulation products, we also trade active pharmaceutical ingredients (APIs).

Earum Pharmaceuticals stock is up over 159% year-to-date, and the multibagger penny stock is up 184% over the past three months.The stock is traded at INRMarket capitalization is 2.98 per piece INR736.4 billion for BSE.

3]Middle East Portfolio Management: This is another multibagger penny stock that has returned 117% so far this year. The stock has increased more than 126% in the past three months.is traded at INRAt 904 million yen per deal, BSE’s m-cap is approximately 4.55 billion yen.

Mid East Portfolio Management Ltd provides investment services to NRIs including Initial Public Offerings (IPOs), Demat services and stock broking.

Also read: Stock market today: Huge profits booked in mid- and small-cap stocks.Analysts advise being “selective” when selecting stocks

4]Ganga Forging: Ganga Forging is a steel forging manufacturing company. Ganga Forging shares are listed only on NSE and traded at: INRMarket value over 15.90 per piece INR176 million.

Ganga Forging’s stock price is up over 150% in 2024, while Multibagger’s stock price is up over 119% in three months and over 287% over the past year.

5]Continental Securities: Continental Securities Limited is registered with the Reserve Bank of India (RBI) as a non-banking financial company and is currently engaged in gold loan financing, inter-company loans, advances and such related fund based activities.

Continental Securities shares are listed under XT category of BSE. It’s also a multibagger penny stock that has returned 107% year-to-date and over 122% in the past three months.

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Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.