Top 5 Best Stocks Under Rs. 20 in the Indian Stock Market for 2023
Introduction
The Indian stock market offers a diverse range of investment opportunities for both new and seasoned investors. Among these opportunities, there are several stocks available for as little as Rs. 20 that have the potential to deliver significant returns. This article focuses on five such stocks that are currently trading under Rs. 20 and have the potential for exponential growth.
1. Yes Bank Ltd
Headquartered in Mumbai, Yes Bank Ltd is a significant private sector bank that has faced turbulent times over the years. In March 2020, SBI invested Rs. 7250 crore, resulting in SBI holding approximately 30% of the bank's shares. The RBI currently owns almost 30% of Yes Bank, reflecting its current shareholding status.
Current Price and Market Capitalization: Yes Bank is currently priced around Rs. 16, with a market capitalization of Rs. 46,000 crore. The bank's reputation was damaged by subpar loans and reports of fraud, leading to a decline in its stock price. Despite these challenges, the injection of capital from SBI has provided stabilization.
2. Vodafone Idea Ltd
Vodafone Idea Ltd, a merger entity of Aditya Birla Group and Vodafone Group, is an Indian telecommunication company incorporated in 2018. The company has a market capitalization of approximately Rs. 38,000 crore. In 2020, the Government deferred interest payable to the company into equity, resulting in the government holding 35.8% of the company's shares.
Stock Price and Future Prospects: Vodafone Idea's stock is currently trading around Rs. 7. Considering the growth potential in the Indian telecom industry, this stock could provide exponential returns in the coming years.
3. Suzlon Energy
Suzlon Energy is a wind and solar energy company founded by Tulsi Tanti in 1995. The company operates in 17 countries worldwide, including Europe, Asia, Africa, Australia, and America. Suzlon Energy has a market capitalization of approximately Rs. 18,000 crore and its headquarters are located in Pune.
Current Stock Price: The current stock price of Suzlon Energy is under Rs. 20, making it a compelling investment option. Given the increasing global emphasis on renewable energy, Suzlon Energy is poised for significant growth.
4. Jaiprakash Power Ventures Ltd
Jaiprakash Power Ventures Ltd is a company known for its involvement in cement, coal, and cement products. Founded in 1994 and a part of the reputable Jaypee Group, the company has a significant presence in states such as Madhya Pradesh, Himachal Pradesh, and Uttar Pradesh. Its market capitalization is around Rs. 4,000 crore.
Current Stock Price and Market Capitalization: Currently, Jaiprakash Power Ventures is trading around Rs. 20 and has a significant potential for growth in the upcoming years. The company's diverse portfolio and geographical presence make it an attractive investment option.
5. Reliance Power Ltd
Anil Ambani leads the Reliance Group, which includes Reliance Power Ltd. This company is a well-known power generator with a market capitalization of approximately Rs. 6,000 crore. Reliance Power's headquarters are located in Mumbai, and the company was established to develop and operate both domestic and international power facilities.
Current Stock Price: Reliance Power is currently trading around Rs. 16, providing a compelling investment opportunity. Given the upward trend in the power sector, this stock could offer substantial returns.
Disclaimer
This article is intended for informational purposes only. Investment in securities and market investments are subject to inherent risks. It is recommended to seek professional financial advice before making any investment decisions.