Here are five penny stocks that beginners can buy with a small amount of money to learn about the stock market.
What are Penny Stocks?
Penny stocks are inexpensive shares with low value and limited trading activity. They’re often listed on smaller stock exchanges. They are mostly illiquid.
Investing in penny stocks is risky. Traders may face losses and also some penny stocks may become worthless.
TOP 5 PENNY STOCKS IN INDIA- 2024:
1. Taparia Tools Ltd:
Taparia Tools Ltd started in 1969 with a Swedish company. They make many different hand tools like wrenches, screwdrivers, and hammers. The company is doing well financially. It doesn’t owe much money, and its profits have grown fast at 37.2% each year.
Also, it gives back some of its profits to shareholders as dividends, which is a good sign. So, people think it’s a great penny stock to buy.
2. Suzlon Energy Ltd:
It was founded in 1995, stands as one of the leading global solution providers. Suzlon Energy Ltd is a company that focuses on renewable energy, especially wind power.
They work in many countries around the world, like India, the United States, Australia, and Brazil. Suzlon Energy has been working hard to lower the money it owes and make its finances stronger.
3. Jaiprakash Power Ventures Ltd:
The company was established on 21st December 1994. Jaiprakash Power Ventures Ltd makes electricity in India using water and heat. They’re working on making their power plants work better and cost less money.
The company is also constructing new power plants due to the increasing demand for electricity in India. Since the Indian government wants more renewable energy and hydroelectric projects, Jaiprakash Power Ventures might do well in the future. That’s why people think it’s a good stock to invest in for 2024.
4. Dish TV India Ltd:
The Zee Group established Dish TV in October 2003. Dish TV India Ltd is a big company in India that gives people television channels directly to their homes. Even though there are lots of other options like streaming online, Dish TV India keeps getting better by investing in new stuff to make customers happy and stay with them.
5. Brightcom Group Ltd:
The company is a digital marketing company founded in 2000. Brightcom Group Ltd, previously called Lycos Internet Ltd, has been a company that helps other businesses with online advertising since 2010.
They owe very little money.
This quarter, Brightcom is expected to do well because it has steadily grown and made good profits over the past five years. That’s why people think it’s one of the best penny stocks to buy in 2024.
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