Penny Stocks That Made Millionaires: Penny stocks, which are generally shares of low-priced and underperforming companies, sometimes prove to be very beneficial for investors. These stocks carry high risk, but making the right investment at the right time can change the investor’s life. Today we will talk about 10 such penny stocks, in which people became crorepatis by investing.
1. Reliance Power (RPower)
Reliance Power was being traded as a penny stock in 2008. The company established its dominance in the market after its IPO and today the price of its shares has increased by more than 200. Early investors in Reliance Power saw very good returns and made profits in crores.
2. Inox Wind
Inox Wind was also traded as a penny stock in 2013. The company was in the wind energy sector, which was one of the new and developing industries at the time. But the company managed its operations efficiently and its stock price saw rapid growth. Investors earned 200-300% returns on their investment.
3. Shilpa Medicare
Shilpa Medicare is a pharmaceutical company that was initially traded as a penny stock. But the company diversified its product pipeline and established its presence in foreign markets. Its shares saw significant growth, giving multi-bagger returns to early investors.
4. Jaipur Rugs
Jaipur Rugs, a handicraft and carpet manufacturing company, was trading as a penny stock in the market. The company became a profitable option for investors due to its innovative designs and export growth. The company’s stock price saw a manifold increase, and those who invested at the right time made a significant profit from their initial investment.
5. Cox & Kings
Cox & Kings is a travel and tourism company, which was trading as a penny stock around 2010. The company strengthened its position in international tourism and increased its stock price rapidly. The stock gave multi-fold returns to investors, making many people crorepatis.
6. Suven Life Sciences
Suven Life Sciences is a biopharmaceutical company. The company was trading as a penny stock when it started its drug development and international partnership projects. Suven Life’s share price saw unexpected growth, and people who invested early in the company converted their investments into crores.
7. Ruchira Papers
Ruchira Papers, a paper manufacturing company, was trading as a penny stock during 2010. The company expanded its production capacity and distribution network and also showed good growth in exports. Those who made early entry in this stock have earned crores of rupees today.
8. Opto Circuits
Opto Circuits was a medical devices company which was trading like a penny stock. The company expanded the demand for its products at the global level, after which its stock price saw a rapid increase. Investors increased their money manifold by investing in this company.
9. Sintex Industries
Sintex Industries was a textile and plastics manufacturing company which was diversifying its business operations. This company was trading like a penny stock when investors entered it. Sintex Industries stocks showed very good growth and made its investors crorepatis.
10. Gitanjali Gems
Gitanjali Gems was a jewelry and diamonds manufacturing company. The company’s stock price was trading like a penny stock when it introduced its designs in the global markets. After that the company increased its revenue drastically and its shares gave multi-fold returns.
Conclusion
Investing in penny stocks can be very risky, but if invested at the right time and in the right company, then these investments can be quite profitable. These examples show how people can become crorepatis by investing in penny stocks. But, it is important that you do your research while investing in penny stocks and take decisions after understanding the market trends. Always remember, the mantra of “high risk, high reward” applies to penny stocks, and if it is directed in the right direction, it can become a big financial success.
Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Money Return suggests its readers/audience to consult their financial advisors before making any money related decisions.
