Many investors have made a lot of money by investing in penny stocks in the past 1, 3, or 5 years. These stocks sometimes give very high profits.
But many traditional investors don’t like to invest in penny stocks. Why is that?
One reason is that penny stocks are different from regular stocks. They are not easy to buy and sell because not many people trade them. Also, there is not much information available about these stocks, and the companies behind them are not well-established.
Another thing is that you can’t use the same methods to figure out their value as you do with regular stocks.
However, some investors find penny stocks exciting because they can make a lot of money quickly.
So, which penny stocks did well in September 2023? Let’s find out.
#1 GVK Power & Infra
This company mainly provides services to power plants, airports, and infrastructure companies. In September 2023, its stock went up by about 150%. In the last year, it has gone up by nearly 280%.
This happened because the company made a profit in the June 2023 quarter, unlike the same quarter last year when it had a loss. Also, people are excited about the “smart metering” idea, which helped the stock.
#2 Gujarat Toolroom
This company used to make molds very precisely, but now it’s looking for new opportunities. In September 2023, its stock went up by 80%. In the last year, it has gained over 700%.
This happened because the company is entering a new market in Dubai, dealing with precious items like diamonds and gold. People think this is a good move for the company.
Omaxe is a company that builds homes, offices, and stores in many cities in India. In September 2023, its stock went up by over 65%. In the last year, Omaxe’s stock has gone down by 19%.
This happened because the company is involved in a railway project, and news about railways makes stocks go up. Also, the company is doing well, and it’s expected to make more money in the future.
#4 Indian Overseas Bank
This bank’s stock went up by over 55% in September 2023. In the last year, it has gone up by 169%.
This happened because the bank made more money in the first quarter of the year, and it had fewer bad loans. This makes people like the bank’s stock.
IFCI is a company that gives money to other companies for big projects. In September 2023, its stock went up by 54%. In the last year, it has gained 156%.
There isn’t one clear reason why its stock went up, but the company has been good at paying back its debts and making money from bad loans. It also helps the government with some projects.
But remember, these gains might not last, so be careful if you want to invest in these low-priced stocks. Do your research and look for stocks with certain good qualities, like high owner stake, low debt, and good profit margins.
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