Indian stock market: These 5 penny stocks turn into multibaggers YTD, give up to 210% returns

Indian stock market: The domestic equity markets have begun the year 2024 on a weak note as the frontline indices have given negative returns so far this year. The benchmark BSE Sensex has dropped 1.5% year-to-date (YTD), while the Nifty 50 is down more than 0.4% since the beginning of 2024.

The drop in the Indian stock market has been largely led by the outflow of foreign institutional investors’ (FII) money amid rising bond yields in the US.

However, despite the volatility in the market, some penny stocks registered whopping gains so far this year. Some of these penny stocks on Dalal Street have risen around 100% to 200% in 2024 so far.

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Top performing penny stocks

Here is the list of top gainer penny stocks this year:

1] Svaraj Trading & Agencies: This micro-cap stock has jumped 210% in 2024 so far. The stock trades at ₹20.13 apiece with a market capitalization of ₹29.69 crore on the BSE. It hit a 52-week high of ₹20.95 on February 8, 2024. The company is in the business of trading and investment in securities.

This stock is listed in XT category on BSE. This is one of the multibagger penny stocks of the Indian stock market as it has delivered near 189% return in the last one month, whereas in the last three months, this multibagger penny stock has risen around 212%.

2] Earum Pharmaceuticals: Earum Pharmaceuticals is engaged in the pharmaceutical business involving marketing, trading and distribution of a wide range of pharmaceutical formulation products, of which around 120 products are marketed by the company under its own brand name, the manufacturing of which is outsourced by it to third parties. Apart from pharmaceutical formulation products, it also deals in trading of active pharmaceutical ingredients (API’s).

The equity shares of Earum Pharmaceuticals have rallied over 159% YTD and the multibagger penny stock has jumped 184% in the past three months. The stock trades at ₹2.98 apiece with a market cap of ₹73.64 crore on the BSE.

3] Mid East Portfolio Management: This is another multibagger penny stock that has given 117% returns this year so far. The stock is up more than 126% in the past three months. It trades at ₹9.04 apiece with a m-cap of around 4.55 crore on the BSE.

Mid East Portfolio Management Ltd provides investment services to NRIs for New Issues (IPOs), Demat Services, Stock Broking and other services.

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4] Ganga Forging: Ganga Forging is a steel forging manufacturing company. The equity shares of Ganga Forging are listed only on NSE and are trading at ₹15.90 apiece with the market value of more than ₹176 crore.

Ganga Forging shares have gained more than 150% in 2024, while the multibagger stock is up over 119% in three months and over 287% in the last one year.

5] Continental Securities: Continental Securities Ltd is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company and is presently engaged in the business of gold loan finance, intercorporate loans, advances and such allied fund based activities. 

Continental Securities shares listed in XT category on BSE. It is also a multibagger penny stock that has given 107% returns YTD and more than 122% return in the past three months. 

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