Indian Penny Stocks List with good fundamentals-Top Penny Stocks in India-Stocks below Rs 20-Stocks Under 20 Rupee

Indian Penny Stocks List for 2024


A very high probability exists that a penny stock will go bankrupt. The company might suddenly shut down. Its chances of continuing in operation are very slim. Ideally, investors should allocate no more than 2 to 3 percent of their total portfolio value to ultra-penny and penny stocks. Let us see some of the Indian penny stocks list for 2024.

Undervaluation is defined as a business that is selling at a single-digit PE multiple while the market is trading at more than 20 times on a trailing basis. For example: when a stock is trading at a price lower than the intrinsic value of the stock. In reality, however, this is not always a compelling reason to invest in the stock of a specific business. A number of other criteria must be considered in order to determine whether or not it offers good value.

What are Penny Stocks?

Penny stocks are shares that trade at low prices, typically under 20 Rupees, on stock markets or exchanges. These stocks grab investors’ attention due to their affordability. However, they also come with considerable risk.

Although this is the primary criteria to examine, as you can see from the definition, it does not mean that it is the only one to evaluate. Investors should avoid investing in stocks if the company’s financial condition is in bad shape.

These stocks are illiquid and not well-liked by institutional investors, who prefer to hold cash. As a result of the limited quantity of information accessible, doing research and analysis on these businesses may be very difficult.

The potential for such businesses to become multibaggers, delivering huge returns for investors in a relatively short period of time, is significant. if you are a beginner then you would also be interested in best mutual funds to invest for long term.

These stocks trade at low volumes, so they are likely to experience longer transaction times. However, when seeking a business with strong foundations and purchasing it at a bargain price, you won’t be disappointed.

First and foremost, you must devote a significant amount of time to studying the PBV and PE, maybe as much as three years. This is due to the possibility that a year’s performance may be unintentionally stage-managed or stage-managed by others.

Furthermore, the fact that the price-based criteria are low is not adequate in and of themselves. Improved building blocks, which serve as the foundation for these ratios, are essential to their long-term viability.

Top 10 – Best Penny Stocks in India for 2024

You should also consider best stocks to buy for long term if you are interested. Let us look into the top 10 – best penny shares in India 2024 which you should consider it.

Sr.Name Of CompanyIntrinsic Value (IV)Price to Earning (P/E) Earning Per Share (EPS) Book Value (BV)1-Year Return (%) 
1Soma Textiles & Industries Ltd.84.9613.1339.2522.99158.82
2Brightcom Group Ltd86.262.447.0134.69-50.79
3Bsel Infrastructure Realty Ltd.
4Ultracab (India) Ltd52.7228.293.0718.1-30.56
5Atv Projects India Ltd.18.2813.51.1336.8762.42
6Sakuma Exports Ltd.15.8315.381.0519.227.64
7Arnold Holdings Ltd37.5318.750.9920.31-34
8Comfort Fincap Ltd.15.278.690.999.81-38.69
9Scandent Imaging Limited27.178.680.898.96-37.65
10Madhav Infra Projects Ltd11.137.40.876.8848.8

List of Indian Penny Stocks with Strong Fundamentals in 2024

In 2024, several Indian penny stocks exhibit strong fundamentals and have yielded profits in the previous year. Investors may contemplate acquiring these stocks at low prices due to their past performance, aiming to leverage favorable market conditions. To better understand penny stocks, let’s take a look at it.

Sr.Name Of CompanyIntrinsic Value (IV)Price to Earning (P/E) Earning Per Share (EPS) Book Value (BV)1-Year Return (%) 
1Regency Investments Ltd31.9833.710.8412.4255.27
2Patel Integrated Logistics Ltd.10.9521.920.7618.4120.58
3Tirupati Sarjan Ltd.11.6125.360.5424.8125.35
4B.A.G.Films & Media Ltd.5.5711.650.527.419.61
5Tgb Banquets And Hotels Ltd.10.0927.20.4826.6116.07
6Odyssey Corporation Ltd.9.3717.760.4419.05-1.27
7Utique Enterprises Ltd21.0718.470.3512.67-14.3
8Alstone Textiles (India) Ltd1.144.450.141.18-78.67
9Kcl Infra Projects Ltd3.2630.330.093.24-5.75
10Inventure Growth & Securities Ltd.1.7323.220.092.52-21.43
11Sacheta Metals Ltd.15.7924.031.0219.591.87
12Celebrity Fashions Ltd.10.8618.521.025.39-10.68
13Akashdeep Metal Industries Ltd18.3820.410.978.37-4.5
14Balurghat Technologies Ltd.9.719.720.939.9193.89
15Century Extrusions Ltd.12.519.10.818.7858.17
16Indianivesh Ltd.NA20.980.75-8.96-71.81
17Alankit Ltd19.1420.740.757.5228.37
18Zodiac Ventures Limited5.5120.160.682.8-64.61
19Shyam Century Ferrous Ltd12.1729.110.677.62-11.88
20Enbee Trade & Finance Ltd.17.1222.270.658.96-48.22
21Mauria Udyog Ltd3.2217.980.642.03194.12
22Kaiser Corporation Limited7.2425.230.61.33-75.57
23Galactico Corporate Services Ltd7.646.930.582.06-74.5
24Super Tannery Limited6.1616.460.548.7228.59
25Gennex Laboratories Ltd.6.1327.80.524.87120.56
26Zeal Aqua Ltd10.1714.990.525.772.52
27Mishtann Foods LtdNA31.850.53.0675.5
28Kcd Industries India LtdNA21.350.443.6556.75
29Bhandari Hosiery Exports Ltd.4.5215.310.45.5233.26
30Super Crop Safe Ltd.4.4324.210.386.438.15
31Seacoast Shipping Services Ltd14.289.040.372.29-52.59
32Il&Fs Investment Managers Ltd.4.1529.580.346.2425.81
33Marsons Limited1.5925.80.330.97130.06
34Swasti Vinayaka Art And Heritage Corporation Ltd3.1413.50.292.3542.34
35Comfort Intech Ltd.7.2930.550.284.16204.32
36Surat Textile Mills Ltd.4.1230.60.249.04-6.49
37B.C. Power Controls Ltd3.426.150.246.1226.12
38Swasti Vinayaka Synthetics Ltd.3.930.90.232.1914.64
39Advik Capital Ltd5.6113.490.221.5-15.59
40Country Condo’s Ltd.2.3219.980.223.128.86
41Diligent Industries Ltd.1.5231.750.21.47-47.15
42Sulabh Engineers & Services Ltd.2.1832.840.193.2152
43Tilak Ventures Ltd2.321.820.193.4-1.85
44Pmc Fincorp Limited2.9523.
45G G Engineering Ltd0.812.430.10.84-86.39
46Tatia Global Vennture Ltd.1.1529.70.11.73125.4
47Sadbhav Infrastructure Project LtdNA1.1-3.36-10.28-11.93
48Dish Tv India Ltd.NA16.65-9.22-4.1519.87
49Reliance Home Finance LtdNA0.02118.11-1.4-48.68
50Essar Shipping Ltd.NA5.4881.97-130.21101.74

Why to Invest in Penny Stocks for Beginners?

The general investing public is disinterested in Indian penny stocks. They want to exit the market as soon as these stocks produce a fair return. As a result, penny stocks trade at such low prices. There has been a lot of evidence that they are in breach of the exchange regulations and lacking in openness.

There is no movement in ultra-penny stocks until there is some sort of news or a turnaround event taking place. The speculation results in an increase in trading volumes, which in turn drives prices to soar to unprecedented heights.

The majority of them, nevertheless, end out to be incorrect or really fundamentally stronger than the most of them. Price decreases as a result of any negative news that comes out.


In this topic we have seen Indian penny stocks list for 2024. The investors, holding a majority interest in the business, continue to retain their shares due to the dividends they receive. This means purchasing shares from the list of penny stocks in India for 2024 doesn’t always equate to value investment. Key aspects involve selecting a stock with the potential to appreciate over time.

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