Updated Jun 22, 2024 | 10:47 AM IST
Sanjiv Bhasin Penny Stocks: We have collated a list of penny stocks recommended by ace investor and IIFL Securities Director Sanjiv Bhasin. The best thing about penny stocks is that they are cheap, so investors can buy a good quantity of shares without spending too much money.
Sanjiv Bhasin Penny Stocks: The appeal of penny stocks lies in their low entry price. (Image: iStock/ET NOW News)
Sanjiv Bhasin Penny Stocks: When it comes to investment in penny stocks, investors are always on the lookout for opportunities that promise multibagger returns despite the higher risks involved. The best thing about penny stocks is that they are cheap, so investors can buy a good quantity of shares without spending too much money.
When experts back up this investment strategy, it makes investors feel more confident and help them in their decision-making process.
On that note, we have collated a list of penny stocks recommended by ace investor and IIFL Securities Director Sanjiv Bhasin.
Penny Stocks To BUY: Sanjiv Bhasin Recommendations – FULL LIST
Vodafone Idea: Sanjiv Bhasin Top Pick
Veteran market expert Sanjiv Bhasin has reiterated his bullish views on Vodafone Idea. In an exclusive conversation with ET NOW on May 29, Bhasin has advised viewers not to sell Vodafone Idea stock.
“Don’t sell below Rs 22… (Ye Bhaav Jarur Aayega) . Look, the price hikes are around the corner. The capital infusion has given them a breath or a reinforcement of confidence. The group is doing well,” he said.
He noted that the company’s net debt to banks is just less than Rs 4,000 crore. “There will be some more amount of outage over the next one year. But I think they are well and truly on path to become EBITDA positive. Cash flow will become positive over the next one year.”
“You will see a lot of users returning to Vodafone Idea. Also, the 5G expansion is going as per plan. I think all the meters fit perfectly,” the ace investor said.
“The underlying icing on the cake is going to be the AGR outlook. If the adjusted gross revenue (AGR) gives you that 40 per cent relief, I think the stock can be rerated very, very fast. But on all declines around these levels, this is a must have in your portfolio,” he said.
“Rs 22 is coming by the end of this year,” Sanjiv Bhasin added.
RattanIndia Power: Sanjiv Bhasin Share
Bhasin is extremely bullish on power projects developer and electricity generator RattanIndia Power’s shares.
In an episode of ET NOW Swadesh, he had said, “There are many well-known investors in this, like Värde Partners and Goldman Sachs. More importantly, it will come out of NCLT. You might remember when I told you about JP Power at Rs 7-8, saying it would become EBITDA positive. Look at the price of JP Power today; its returns have been superb. Both returns and results. A market cap of Rs 4000 crore is now Rs 12000 crore. Similarly, Reliance Power, which was at Rs 3.5-4, is now at Rs 30. RattanIndia Power is the next play in this space.”
“Considering the capacity it has, its future vision, and the demand, even if it doubles or triples from here, I have no doubt about it. Its market cap is Rs 4500 crore, and Rs 10000 – Rs 12000 crore is inevitable for it. As soon as it comes out of NCLT, you will see a new momentum in it,” he further added.
Bajaj Hindusthan Sugar: Sanjiv Bhasin Portfolio Stock
Bhasin, in an episode of ET NOW Swadesh on June 12, had revealed that he had bought a penny stock when it used to trade in the range of Rs 6.5 to Rs 8. Now, the same stock trades above Rs 40. The stock is Bajaj Hindusthan Sugar.
The ace investor said that when no one was asking about Bajaj Hindusthan Sugar, he had bought it at the price range of Rs 6.5 to 8. He revealed that he still holds these shares in his portfolio. He further stated that today the price has surpassed the Rs 30-mark, but he still doesn’t have the courage to sell them.
If you already own these shares, he advised staying invested as they are expected to yield more profit in the future.
Dhanlaxmi Bank: Sanjiv Bhasin Recommendation
In an exclusive conversation with ET NOW Swadesh on April 5, the market expert recommended buying shares of Dhanlaxmi Bank to reap handsome returns in the short term.
The market expert had set the target price of the stock at Rs 65 apiece, he added that the stop loss for the share should be around Rs 36. The expert told ET NOW Swadesh viewers that they should buy the stock in the Rs 40 and Rs 42 price range.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
