The stock markets in India are on a continuous upswing of late, with the benchmark indices Sensex and Nifty rising 20-22% since so far this year since January 2017. Investors’ attraction towards Indian equities has helped the broader NSE index Nifty 50 hit a long-awaited five-digit figure of 10,000 points in on 25 July 2017 while the 30-share barometer BSE Sensex has rode past 30,600 points. As for the last three months, both the indices have returned 7%, which is also a good enough return.
However, if we compare Sensex and Nifty returns with some other stocks then these returns may look very dull. Here are 3 penny stocks under Rs 10, which have more than tripled in just last three months. And the most amazing thing is, that it may not be very expensive to buy those stocks and build a sizeable position, unlike the blue-chips.
Quintegra Solutions: Shares of this software facilitator have risen 244.59% to Rs 2.55 in the last three months. Quintegra Solutions is a multi-skilled software service provider with different kind of offshore outsourcing. Quintegra is listed on BSE, NSE and MSE in India with offices in USA and India. Quintegra says on its company’s website that it delivers a full range of application development, testing, enterprise solutions, business process consulting, systems integration and staffing services as well as pre-defined solution frameworks. Three months back the share price of Quintegra Solutions was at Rs 0.74.
Eastern Silk Industries: The stock of silk fabric manufacturer Eastern Silk rose as much as 229.55% to Rs 8.14 from May 2017. The Kolkata-based Eastern Silk Industries is involved in multifaceted business activities. The firm deals in trading and manufacturing of silk yarn, fabrics and made-ups, home furnishings, fashion fabrics, handloom fabrics, double width fabrics, scarves, laces & belts and embroidered fabrics. In the year 1958, the export house embarked on its overseas business, with an export turnover of just Rs 50,000. The firm fabricates from traditional hand woven and hand embroidered to contemporary yarn dyed, prints, dobbies, jacquards and machine embroideries. Three months earlier the shares of Eastern Silk Industries was at Rs 2.47.
Magnum Ventures: Shares of paper manufacturer Magnum Ventures have risen 183.87% to Rs 10.56 in three months. Magnum Ventures is a paper manufacturing mill based in Sahibabad is engaged in the business of trading and manufacturing of papers for more than 25 years now, having an installed capacity of producing 85,000 tonnes of paper per annum. Magnum Ventures Ltd was incorporated in the year 1980. The company deals in equal quantity of cream wove paper, maplitho, copier, and coated duplex board. Three months back the share price of Magnum Ventures was at Rs 3.72.