12 Oct List of Top and Best Penny Stocks in India 2024| Best Penny Stocks in the Share Market

The penny stocks are always center of attraction for new investors having low budget to invest. Penny stocks are highly volatile in nature. Prices of penny stocks go high and low with market volatility. You may suffer with loss if you invest without analyze of fundamentals of a stock.

New investors invest for good gains in low budget. They buy penny stocks in good quantity at low prices. Sometimes they get good profit or loss in speculation.    

 In this changing era, when investors come to know about fundamentals, they start search for good penny stocks. Good fundamentals of stocks assure their good presence in present and future. It also ensures that the penny stocks can have potentiality to face market volatility. We have selected some fundamentally strong stocks. You can get better view in screener. These are decided considering various factors required checking fundamentals of a stock.

Fundamentally strong penny stocks are low price stocks having sound financials. Profitability, debt, sale, cash flow, ROE, ROCE, PE are among responsible factors for fundamentals. Good fundamental penny stocks may be profitable in long term. Fundamentally robust penny stocks may have good profitability, growth possibility in future.

“Without a solid foundation, you’ll have trouble creating anything of value.”

Strong fundamentals are alike solid foundation of a company. Let’s talk about some fundamentally strong penny stocks.

1. Salasar Techno Ltd
2. Captain Pipes Ltd.
3. Goyal Aluminiums Ltd
4. Spright Agro Ltd
5. G G Engineering Ltd
6. Taparia Tools Ltd
7. Mishtann Foods Ltd
8. Vikas Ecotech
9. Tatia Global Vennture Ltd
10. Surat Trade & Merchantile Ltd

1. Salasar Techno Ltd: Salasar Techno Ltd. is provider of customized steel fabrication and infrastructure solutions. The company is engaged in engineering, designing, fabrication, galvanization and deployment. Company has 3 manufacturing units in India located in UP. Company has grown with 14% ROE in 10 years. The company has shown extra ordinary growth within 5 years. (2020-2024).
2. Captain Pipes Ltd: The Company is engaged in manufacturing of UPVC and CPVC pipes. The company is enjoying 73.78% promoters holding. ROCE and ROE of company was 25% and 17.5% respectively.
3. Goyal Aluminiums Ltd.: Goyal Aluminiumns Ltd. is engaged in aluminum coils, aluminum sheets and other aluminum material. The company is trader of metal products. ROCE: 16.5% ROE: 12.5%. Promoter holding is 69.97%. Company is virtually debt free. Company is growing well year on year basis.
4. Spright Agro Ltd. The company is dealing in business of agriculture goods and commodities. ROCE 38.6% and ROE 35.7%. Company is virtually debt free.
5. G G Engineering Ltd. The company deals in trading of iron and steel metals. Agricultural pipes, mild steel pipes and structural steel are some products of trading for the company. The company is famous for its steel pipe products. The virtually debt free company has shown good growth in previous years. Investment in penny stocks should be small share of your total budget.
6. Taparia Tools Ltd. The company is engaged to provide hand tools solutions. The company is manufacturer of plier, adjustable spinner, mini pliers, socket accessories, socket set, torque wrench, tester, screwdrivers and sets and tool sets. The ROCE and ROE of company is 44.0% and 32.8% respectively. The company is almost debt free. I have noticed that it is really difficult to buy shares of Taparia tools because we rarely see any sellers there. 69.72% promoter holding there. The company is famous for its highest dividend paying records. The share price of the company is Rs. 7.96 (as on 28.9.2024). There is list of divided paid in previous years: 70.00 (2021), 50.00 (2022), 52.50 (2022), 77.50 (2023), 77.50 (2023), 20.00 (2024).  Now tell me why any shareholder will sell this stock? Suppose if you buy 10000 share @ 7.96/-; and suppose you get dividend of 70/- then you have earned more than your investment in a year. 79600/- (investment) and 700000 was dividend wow.  Near 10X you will get first year in suppose condition?
7. Mishtann Foods Ltd.: Mistann Foods is an agro product company. The company processes and trades of rice, wheat and other food grains. With amazing ROCE 88.7% and ROE 98.7% , Mishtann Foods is an amazing company. Promoter holding 46.87% FIIS investment is 2.79%.
8. Vikas Ecotech : The company is engaged in the business of manufacturing of specialty chemicals. The company is almost debt free. The growth of business of the company is good and sale and profit is growing. There is 10.66% promoter holding in the company.
9. Tatia Global Vennture: Tatia Global vennture is engaged in textile business. The company is virtually debt free. Promoter holding shows its potential in future. 41.24% promoters have trust in the company’s business.
10. Surat Trade and Mercantile Limited: The textile company is a part of the Garden group. The company manufactures polyester chips. The company is also engaged in the trading of metal, energy and agricultural products. Promoters’ holding is 68.45%.

Disclaimer: You may consider buying these stocks; but please advising your financial advisor before thinking to buy. The article is based on our personal views and information collected from trusted sources. We are not registered with SEBI.