13 penny stocks turned multibaggers since the market slump began. Did you catch them?
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At a time when benchmarks have dropped over 12% from peaks and a similar trend being witnessed in the broader market, a handful of penny stocks have seen robust rallies in the last four months, delivering returns upwards of 400%. Penny stocks -- typically having a price below Rs 30 per share -- are among the most sought after names especially among the retail traders as they have the potential for explosive moves. East India Drums, which is specialised in the production of steel drums and barrels used for storage and transportation of liquids, chemicals, and hazardous materials, soared nearly 438% from the market peak, leading the charts in the penny stock space. Fone4 Communications, Pro Fin Capital, Bridge Securities, Quasar India, Manor Estates, Garodia Chemicals, PFL Infotech, Nikki Global Finance and Mid East Portfolio are some of the other stocks which have seen returns upwards of 100%. The allure of penny stocks lies in low entry ...