250% returns from Vodafone Idea, Suzlon to Reliance Power

10 Multibagger Penny Stocks 2023: Investing in penny stocks is risky but if you have used your intelligence and patience properly, you can get huge returns in a short period of time. However, it is also important to acknowledge that most penny stocks are low float in nature and they can swing either way on a single trigger. But, still a good number of stock market investors with high risk appetite invest in penny stocks in the hope of making huge profits in a short period of time.

High Yielding Penny Stocks in 2023

Here we list some famous penny stocks that have given massive multibagger returns in 2023:

Vodafone Idea: The share price of this penny stock has increased from about ₹8 to ₹16, which will give 100 percent returns to its investors in 2023. This multibagger penny stock finally touched the level of ₹5.80 per share on NSE. March 2023. And there was a sharp increase in the current financial year. In FY24, Vodafone Idea shares have risen from ₹5.80 to ₹16 per share, up 175 per cent in FY2023-24.

Reliance Power: Shares of this Anil Ambani-backed company remained under selling pressure after the beginning of 2023. However, it fell to ₹9.15 per share on NSE at the end of March 2023. In FY 2024, there was a sharp rise in the shares of Reliance Power. And ended at ₹23.30 per share in the last trading session of the year. Hence, this stock is one of the multibagger penny stocks that the Indian stock market has delivered in FY24. This Anil Ambani-backed penny stock has given more than 150 percent returns in the financial year 2023-24. However, due to selling pressure in the first three months of 2023, the penny stock’s net returns fell nearly 60 percent in YTD time.

Maurya Industries: Shares of this penny stock ended at ₹10.23 per share in the last trading session of 2023 on BSE. This penny stock rose from ₹3.67 to ₹10.23 per level in YTD time, giving returns of 180 per cent in 2023. However, the multibagger penny stock remains an ideal sell stock on the upside from September 2023. But, it remains above the ₹8.89 level since November 2023 and is indicating to come out of the base building mode for the last two months.

Comfort Intake: The share price of this small-cap stock has increased from ₹2.69 to ₹9.38 per share on BSE, giving a multibagger 250 percent return in the year 2023. Multibagger penny stocks have given more than 100 percent returns in the last six months. Whereas in the last one month it has increased by about 20 percent. Its market cap is ₹300 crore and its 52-week high is ₹10.17 on BSE.

Vivanta Industries: Shares of this small-cap company surged from ₹1.63 to ₹4.52 per share on the BSE, registering a rise of 175 per cent in the YTD time. Hence, it is one of the multibagger penny stocks that the Indian stock market has delivered in 2023. Its 552-week high is ₹6.93 per share and its 52-week low is ₹1.52 per share.

BSEL Algo: The share price of this penny stock has risen from ₹4.76 to ₹16.20 per share level, up by 240 per cent in YTD. The 52-week high level of this multibagger penny stock is 17.67 while the 52-week low level of this penny stock is 4.34.

Kenvi Jewels: This jewelery stock has surged from Rs 4.06 to Rs 8.30 per share on BSE, registering a rise of almost 105 per cent in the YTD time. Its 52-week high is ₹15.70 while its 52-week low is ₹3.80. It ended on Friday with a market cap of ₹105 crore.

Tarini International: This multibagger penny stock has risen from ₹4.95 per share to ₹11.41 per share on the BSE year-to-date. This penny stock has given returns of 130 percent to its long-term investors. It ended on Friday with a market cap of ₹15 crore. Its 52-week high is ₹18.28 while its 52-week low is ₹4.11 per share.

Suzlon Energy: The share price of this energy stock has increased from ₹10.75 to ₹38.20 per level in the year 2023. Hence, it is one of the multibagger penny stocks that Dalal Street has delivered in the YTD time. Suzlon’s share price has increased by more than 250 percent in 2023. Its 52-week high on NSE is ₹44 while its 52-week low is ₹6.95. It ended on Friday with a market cap of ₹51,810 crore.

Tatia Global Venture: The share price of this penny stock has risen from ₹1.42 to ₹3.07 per level, offering over 150 per cent returns to its shareholders in 2023. Hence, this stock is one of the multibagger stocks of the Indian markets. It ended on Friday with a market cap of ₹46.55 crore. Its 52-week high is ₹3.33 and its 52-week low is ₹0.86.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mortimes. We recommend investors to check with certified experts before taking any investment decision.