Penny stocks (stocks trading below Rs 10 per share) are always alluring to investors as they offer an easy way to make money in what is usually a short period of time (if you’re lucky, that is).
Below is a list of penny stocks that generated more than 30 percent returns since 21 st June i.e., the past seven trading sessions. In comparison, the benchmark Sensex is up 2.5 percent during the same period. But be warned. Penny stocks are usually the easiest to manipulate – and don’t be surprised if you actually lose it all.
Top of our list is Ocean Agro (India) which has yielded 40 percent returns in the last seven trading sessions. According to Ace Equity, the company has a market capitalisation of Rs 5 crore and deals in the field of agro products, plastics, packaging materials and irrigation equipments such as drip and sprinkler systems. While the company’s revenues shot up by 9.2 percent to Rs 16.4 crore, net profit increased to Rs four lakhs for the year ended March 2012.
Next on the list is Kolkata based Nucent Finance (Estate) which is engaged in the real estate development and management consultancy. It arranges real estate deals to improve profitability and also continues to recover non-performing asset dues through pursuance of civil and criminal suits filed against defaulters from its earlier hire purchase and leasing business. The stock has seen quite a run and has shot up by 464.84 percent in the last three months vis the Sensex fall of a meager 0.5 percent.
Disclaimer: Firstpost is looking at penny stocks to tell you what may be going on there, and not to bring you an investment opportunity. Investors are warned that they should NOT take any buy or sell decision based on the information presented in our posts or market price trends. Investors should consult their own financial and share advisors before taking purchase or sale decisions. Firstpost does not take any responsibility for any losses incurred by investors who take their cues from our posts and chat sessions.