2 days ago
SUMMARY
CNCB-TV18 has handpicked some penny stocks that have soared over 1000% in 2024. All these stock are thinly traded, making entry or exit grim for investors. Moreover, promoter shareholding in most of these companies are comparatively lower than public shareholding.
By Yoosef K January 2, 2025, 5:44:50 PM IST (Published)
1 / 9
Not generating adequate revenue seems no more a criteria while picking stocks. Companies with zero or marginal sales have gone through the roof in 2024 where many stocks are trading above their historical averages. CNCB-TV18 has handpicked some penny stocks that have soared over 1000% in the year gone by. (Image: Reuters)
2 / 9
Risky business: Remember, all these stock are thinly traded, making the entry or exit grim for investors. Moreover, promoter shareholding in most of these companies are comparatively lower than public shareholding. Some of the companies have no assets, resulting in negative networth and have eneven changed their name and registered office address. Take a look at these stocks and find out how much returns they have given between January and December, 2024. (Image: Shutterstock)
3 / 9
No 7. Hindustan Appliances | Mcap: ₹159 crore | Returns: 1,003% | This Mumbai-based company commands a market capitalisation of nearly ₹200 crore. The company, which is involved in manufacturing, imports, and exports of textile products reported a net profit of ₹13 lakhs in FY24, with no topline. Shares of the company were quoted at about ₹2 in April 2023 and hit a high of ₹394 in November 2024, but cooled off at ₹160 level. (Image: Shutterstock)
4 / 9
No 6. CEENIK Exports India | Mcap: ₹470 Crore | Returns: 1,098% | Shares of Ceenik Exports are trading at ₹1,352.80 a piece against ₹100 quoted about a year ago — that’s a colossal return of 1,130% within a year. Interestingly, the stock has been hitting its upper or lower limits in almost every sessions over the last one year. The Company, which offers knitting, dyeing, printing, finishing, and garmenting departments reported a net profit of just ₹57 lakh in FY24 on the back of no revenue. (Image: Reuters)
5 / 9
No 5. Flora Textiles Ltd | Mcap: ₹90 crore | Returns: 1430% | This manufacturer and exporter of woven grey fabrics is changing its name to Anirit Ventures. Its MD, CFO, company secretary have all resigned and the company's registered office has been changed from Coimbatore to Mumbai. The company has no assets, its networth is negative and has an outstanding debt of ₹6.6 crore.
6 / 9
No 4. ACE Engitech | Mcap: ₹23 Crore | Returns: 1,716% | Nearly three-fourths of Ace Engitech is held with the public, yet there was hardly any trade executed between June 19, 2024 and August 27, 2024. Shares of the company have rallied 1,928% in 2024 from ₹14.10 to ₹284. About six months ago, the stock was quoting at about less than Rs 20. Ace Engitech, which offers investment banking and financial advisory services reported a net loss of ₹16 lakh in FY24.
7 / 9
No 3. RRP Semiconductor Ltd | Mcap ₹ 258Crore | Returns: 1,719% | The company has a negative net worth with an outstanding debt of ₹8 crore as of March 2024. Nearly 99% of RRP Semiconductor is held with the public and shares of the company rallied from ₹10 to ₹175 in 2024, boosting its market capitalisation to ₹238 crore. The real estate broker reported a net loss of ₹2 lakh in FY24 on the back of a revenue of ₹38 lakh.
8 / 9
No 2. Sree Jayalakshmi Autospin | Mcap ₹37 Crore | Return 2,093% | The company delayed announcement of Q2 results and cited technical/network error issues due to which OTP generated for BSE login couldn't be recovered and consequently login was delayed. (Image: Reuters)
9 / 9
No 1. Jagsonpal Finance and Leasing | Mcap : ₹61 Crore | Returns: 2,324% | The capital market company is changing its name to KRA Finance Ltd. On October 15, 2024, Karthik Srinivasan (now the company's Chairman and Managing Director and Chief Financial Officer) acquired 56% stake in the company at ₹12.50 per share, which subsequently resulted in a complete change of management. Shares of Jagsonpal Finance and Leasing have rallied 2,424%. The company reported a net profit of ₹36 lakh on the back of ₹50 lakh revenue. Interestingly, shares of Jagsonpal Finance were trading below Rs 10 until June. The stock was trading at ₹121.35 on the BSE on January 2. (Image: Shutterstock)
