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Five Best Penny Stocks to Buy Now

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Market is on a roll, thanks to the newly elected Government promises for the future of India. The world has turned its attention to us today. If the huge plans laid down for our country are implemented properly, economy will surely be a rocket soon. If you are one of those who believe that India will grow, you have to participate in this glorious growth. The best way to participate is to be in the stock market. We are not asking you to buy now and sell tomorrow. This is the job of a trader. We always encourage healthy investing.

We had told this before. If you would have invested Rs. 1 lakh in Wipro 30 years back, your wealth would have been hundreds of crores now. Of course, I doubt if anyone would have stayed this long in any stock for that matter. Moreover, not every stock can turn out to be a wealth maker. However, we are here to throw some light on five little known companies which you can consider investing for your better future.

1) Dhampur Sugar Mills Ltd

As the name suggests, it is part of Sugar industry. It is amongst the leading sugarcane companies in India. Apart from this, they have also ventured into Power, Ethanol, Alochem, Industrial Gases and Bio Fertilizers. This is a promising company especially considering the prospects of Sugar Industry in the future.

Market Cap – Rs. 256 crores

P/E – NA

Industry P/E – 43.30

2) Goenka Diamond and Jewels

It started off as Goenka exports on Nov 5, 1990. The promoter of the company, Mr. Nand Lal Goenka has over 40 years of experience in the gems and Jewellery space. It primarily operates in the areas of cutting, trading and polishing of diamonds. It has great potential to be a winner in this space if it performs up to its potential.

Market Cap – Rs. 69.74 crores

P/E – NA

Industry P/E – 16.51

3) Neo Corp International

This company operates in the technical textiles manufacturers’ space. It started off as a small woven sack factory back in 1988. It has transformed itself into a world class integrated textile manufacturer. The reason for the present success of this company is to be able to produce eco-friendly, efficient products through state of the art production facilities.

Market Cap – Rs. 145.05 crores

P/E – 7.52

Industry P/E – 26.21

4) Metkore Alloys Industries

This company manufactures high carbon ferro-chrome for use in the stainless steel industry. Experts treat this stock as a penny stock in the current stage and recommend buying it for long term. Consumption driven demand is sure to drive this company’s fundamentals.

Market Cap – Rs. 57.89 crores

P/E – 9.03

Industry P/E – 29.77

5) Manali Petrochemicals Ltd

It was incorporated on 11th June, 1986. The company is a leader in the production and marketing of Petro Chemical products such as Propylene Oxide, Propylene Glycol and Polyols in India. It has its own manufacturing units in India as well as imports material from Japan and China.

Market Cap – Rs. 245.10 crores

P/E – 6.42

Industry P/E – 20.52

Final Word

It has been observed often that people just pick up random advice and invest heavy amounts in advised stocks. Always do your own research before investing and never rely on any one stock or sector. Diversify your investments across various investments such as Mutual Funds, Stocks, FDs etc. Even among stocks, try to pick stocks from different sectors to invest and then cater your investment amount among them. Moreover, keep in mind the risk involved when you invest in penny stocks. You may also have to suffer losses in such investments.

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