We all have that friend who flaunts the stock that he has bought at a low price (maybe a single digit) and now which is trading at a higher price. 

So does buying penny stock really become a multi-bagger? Definitely not. But buying a good quality stock that has a growth opportunity will surely make it true. So the price of the stock doesn’t matter that much but the quality does!

Many stocks, valued under Rs. 20 have bagged more than 700% returns, i.e., turned into multi-baggers, all amidst severe market turmoil!  So, if you are betting on stocks below Rs. 20, below is a detailed list of best stocks to invest under Rs. 20

Continuing to the top 10 stocks which are priced under Rs. 20 and sound fundamentally good are as follows:

1. Bank of Maharashtra

Bank of Maharashtra is a nationalised bank under the ownership of the Ministry of Finance, Government of India. It has the largest network of branches of any nationalised bank in the state of Maharashtra. 

CEO: A. S. Rajeev (2 Dec 2018)

Founded: 16 September 1935

Revenue: 13,144.67 crores INR (US$1.7 billion, 2020)

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Bank of Maharashtra

2. Yes Bank

Yes Bank is an Indian bank headquartered in Mumbai, India, and was founded by Rana Kapoor and Ashok Kapur in 2004. It offers a wide range of differentiated products for corporate and retail customers through retail banking and asset management services. 

CEO: Prashant Kumar (6 Mar 2020)

Subsidiaries: Dish TV, Yes Securities (India) Limited, MORE

Founders: Rana Kapoor, Ashok Kapur

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Yes Bank

3. Vodafone Idea

Vodafone Idea is one of the main private players in the telecom sector of India.

The Vodafone Group currently holds a 45.1% stake in Vi and Aditya Birla Group holds a 26%% stake.

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Vodafone Idea

4. UCO Bank

UCO Bank, formerly known as United Commercial Bank, was established in 1943.

It was founded by GD Birla and is now under the ownership of the Ministry of Finance, Government of India.

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: UCO Bank

5. Suzlon Energy

Suzlon Energy Limited is an Indian multinational wind turbine manufacturer based in Pune, India. It was formerly ranked by MAKE as the world’s fifth-largest wind turbine supplier.

CEO: Ashwani Kumar (Oct 2020)

Founded: 1995

Revenue: 4,187.33 crores INR (US$560 million, 2021)

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Suzlon Energy

6. LKP Securities

LKP Securities Ltd. is in the business of Share Broking. LKP offers a wide spectrum of services that includes Equity Broking in Cash and Derivatives, Internet-based trading, Demat services & Research services.

Founded: 1948

Subsidiaries: LKP Wealth Advisory Limited

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: LKP Securities

7. Punjab & Sind Bank

Punjab & Sind Bank has 1,526 branches across India, out of which 635 branches are in Punjab.

The bank was established on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh.

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Punjab & Sind Bank

8. Jaiprakash Power Ventures

Jaiprakash Power Ventures Limited is engaged in the generation of power, including hydro and thermal, cement grinding, captive coal mining, and transmission of power.

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here Jaiprakash Power Ventures

9. Hathway Cable

Hathway Cable & Datacom is engaged in the distribution of internet services through cable and has a strategic stake in entities engaged in the Cable Television business.

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Hathway Cable & Datacom

10. Reliance Power

Reliance Power is an electric power and natural gas company of the Reliance And Dhirubhai Ambani Its current CEO is K Raja Gopal. It was founded on 17 January 1995 by Dhirubhai Ambani. 

Source – web.dhan.co as of 4th May 2022

To know more about the stock, click here: Reliance Power

These were the best stocks to invest under Rs. 20 in India, we keep on bringing such insightful ideas to make your investing journey easy. You can also check list of Nifty 50 stocks and the list of Bank Nifty stocks.

Happy Investing 😇

PS: The above-mentioned stocks are just for educational purposes and should not be construed as recommendation for buying/selling. Investments in securities are subject to market risk read all the related documents carefully before investing. The stocks discussed on this website may not be suitable for all investors. Investors should make their own investment decisions based upon their own financial objectives and financial resources and, if in any doubt, should seek advice from an investment adviser.

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