Mumbai, Oct 2 – Buyers of cheap Indian shares have seen a sharp slide in the last month. Thirteen penny‑stock names fell between 20 % and 55 % from their highs, according to a fresh market screen.
The stocks under review trade at less than ₹20 a share, belong to companies worth under ₹1 000 cr, and have traded at least 500,000 shares recently. The cut shows just how thinly traded and risky this part of the market can be.
Biggest drop
Starlineps Enterprises lost a staggering 56 %, closing at ₹2.19. It was followed by Murae Organisor (‑49 %) at ₹0.27 and Alstone Textiles (India) (‑47 %) at ₹0.37. Mehai Technology also fell 47 %, trading at ₹4.83.
Other laggards included Spright Agro (‑30 % to ₹0.76), Retro Green Revolution (‑28 % to ₹2.63), Avance Technologies (‑28 % to ₹2.05), Vantage Knowledge Academy (‑27 % at ₹2.12), Sunshine Capital (‑24 %) and Dharan Infra‑EPC (‑23 %).
Why investors should be cautious
Experts warn that penny stocks are cheap because of low liquidity, sharp price swings and less transparency. These factors make them easy targets for manipulation and sudden crashes. While tiny investors are attracted by the low price and potential quick gains, the downside can be steep if they don’t tread carefully.
Nifty’s recent roller‑coaster
Last week the Nifty index, which had jumped almost 1,500 points in October, settled into a tight range. After a rally that took it close to record highs, the market pulled back. “Global uncertainty and profit‑booking at higher levels slowed momentum,” said market watchers. By Sunday the Nifty slipped 0.28 % and showed a “Shooting Star” pattern on the weekly chart, suggesting a pause after the uptrend.
The markets remain volatile, and traders are advised to watch penny stocks closely—or steer clear if they prefer less risk.
Source: ianslive
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