India 2020 India

Penny stocks outpace Sensex as markets rebound from covid blows

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covid blow in March last year and markets remained strong driven by flush of liquidity, penny stocks outperformed benchmark index in the financial year 2021 so far.

Abundant liquidity in the market drove low value stocks to their multi-year highs even as businesses struggled to cope with the covid led disruptions with few sectors still reeling under pressure.According to data sourced from Capitaline, 348 penny stocks have gained 80-2200% in the one year starting April 2020 outpacing the over 70% rise in benchmark Sensex.

In the year, six stocks have gained 1000-2210%. These stocks include DigiSpice Technologies Ltd, Subex Ltd, CG Power & Industrial Solutions Ltd, RRIL Ltd, Mcleod Russel India Ltd and Biofil Chemicals & Pharmaceuticals Ltd..

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