Top Stocks Under Rs 10 in India: A few decades ago, very few people would have considered investing in the stock market. They would receive share certificates as a mark of ownership because demat accounts did not exist, and they would lose track of their money. Years later, their children or grandchildren discover these certificates and realize that the shares their grandparents purchased at throw-away prices are now worth a lot. 

In this article, we shall look at top stocks under Rs 10 and understand their business and financials and list of good stocks.

Top Stocks Under Rs 10 In India

Top Stocks Under Rs 10 in India #1 – FCS Software Solutions Ltd

FCS Software Solutions Limited is an IT Company providing IT and IT-enabled services with 25+ Years of experience. 

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The company has strong delivery capabilities in application development and maintenance, eLearning and digital content management, software testing, infrastructure management services, and product development.

FCS software has 250+ Global customers including McKinsey, IBM, Dominos, KPMG, etc., and has technology partnerships with Microsoft, HP, Oracle, and IBM.

The company has 8 offices as of 31st March 2023 across 6 cities in India, and others in Dubai and Germany.

Segment-wise revenue contribution includes 24% from Infra Management, 59% from IT & IT Enabled Services, and 17% from Education/ E-learning.

The company’s financial statements reported a 1% increase in revenue from operations, increasing from Rs. 34.62 Cr in FY22 to Rs.34.91 Cr. in FY23. The net profit stood at Rs.1.46 Cr, increasing from a loss of Rs (0.05) Cr. in FY22. 

ParticularsAmountParticularsAmount
CMP 5Market Cap (Cr.)781.27
EPS(TTM)0.02Stock P/E 0
RoE0.88%RoCE2.11%
Promoter Holdings19.65%FII Holdings0.02%
Debt to Equity0.11Price to Book Value4.75
Operating Margin15.98%Net Profit Margin4.18%

Top stocks under Rs 10 in India #2 – Sarveshwar Foods Ltd

Sarveshwar Foods Ltd. was founded by the late Shri Mulamal Ji in 1890, currently owned and managed by the 4th generation of the family. With 133 years of existence, they are a household name in Jammu & Kashmir in providing the complete range of Indian traditional Basmati rice with the philosophy of a sattvic and conscious lifestyle.

Sarveshwar combines centuries-old values and traditional farming, modern manufacturing processes, and state-of-the-art quality systems. Their product portfolio includes a complete range of Indian traditional Basmati rice, 1121 Basmati Rice, Pusa Basmati Rice, Sharbati Rice, PR 11 rice, IR 8 rice, and so on, available in numerous packaging sizes.

It has two state-of-the-art plants spread across 24 acres of land with a rice processing & packaging capacity of 350+ MT per day.

They have a robust distribution network in India with their products available in 3000+ super stores and a global presence in 25+ countries with 50000+ happy customers. 

The financial statements of the company reported a 14% increase in revenue from operations, increasing from Rs. 604.72 Cr in FY22 to Rs.689.32 Cr. in FY23. The net profit stood at Rs.7.91 Cr, increasing 28% from Rs.6.19 Cr. in FY22. 

ParticularsAmountParticularsAmount
CMP 5.4Market Cap (Cr.)527.58 
EPS(TTM)0.12Stock P/E 39.82
RoE4.87%RoCE8.14%
Promoter Holdings54.91%FII Holdings3.76%
Debt to Equity1.39Price to Book Value1.84
Operating Margin4.71%Net Profit Margin1.15%

Top stocks under Rs 10 in India #3 – Comfort Intech

Comfort Intech Limited, part of the Comfort Group was founded by Mr. Anil Agrawal (CA, ICWA) in 1994 initially as Comfort Finvest Limited. 

The company is engaged in the business of trading goods including fans, fabrics, water heaters, monoblock pumps, etc on the e-commerce marketplace platforms and the immediate suppliers of the marketplace platforms. In 2019, the company further entered into new business areas of liquors, wines, Indian-made foreign liquor, country liquor, etc, and to carry on the business as distillers, manufacturers, procurers, importers, exporters, etc.

Comfort Group has also made available all the essential platforms like BSE, NSE, MCX, MCX-SX, and Non-Banking Finance Activities covering primary market, investment solutions, debt services, capital markets, equity, derivatives, currency derivatives, depository services (CDSL), project financing, wholesale financing, and other segments to their clients.

The revenue breakup: 64% from trading in goods, 33% from manufacturing liquor, 0.5% from trading in shares & mutual funds, 2% from financing, and 0.5% from leasing.

The financial statements of the company reported a 24% increase in revenue from operations, increasing from Rs.132.10 Cr in FY22 to Rs.164.12 Cr. in FY23. The net profit stood at Rs.5.89 Cr, increasing 23% from Rs.4.8 Cr. in FY22. 

ParticularsAmountParticularsAmount
CMP 9.76Market Cap (Cr.)312.26 
EPS(TTM)0.28Stock P/E 28.25
RoE5%RoCE7.08%
Promoter Holdings57.46%FII Holdings0.00%
Debt to Equity0.07Price to Book Value1.88
Operating Margin4.94%Net Profit Margin3.59%

Top Stocks under Rs 10 in India #4 – Madhav Infra Projects

Madhav Infra Projects Ltd was established in 2010 and operates in the fields of energy, real estate, highways, and urban infrastructure.

Madhav has stepped into all areas of power like generation, transmission, and distribution. It has also completed SPV power projects in various states namely Karnataka, Punjab & Gujarat, and has ongoing projects in Gujarat, New Delhi, and Uttarakhand.

It has completed projects for clients like Gujarat State Electricity Corporation Limited,  Oil and Natural Gas Corporation of India, Energy Efficiency Services Limited, etc.

The financial statements of the company reported a 17% increase in revenue from operations, increasing from Rs. 460.07 Cr in FY22 to Rs. 512.7 Cr. in FY23. The net profit stood at Rs.36.57 Cr, increasing 445% from Rs.6.70 Cr. in FY22. 

ParticularsAmountParticularsAmount
CMP 8.29Market Cap (Cr.)192.75
EPS(TTM)0.87Stock P/E 8.22
RoE29.19%RoCE20.18%
Promoter Holdings69%FII Holdings0.00%
Debt to Equity1.24Price to Book Value1.04
Operating Margin11.23%Net Profit Margin7.13%

Top stocks under Rs 10 in India #5 – Inventure Growth & Securities Ltd

Established in 1995, Inventure Growth & Securities Ltd. provides stockbroking and related services.

It has membership in the cash and derivatives segment of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the currency futures segment of BSE and NSE, the MCX Stock Exchange (MCX-SX), and the wholesale debt market segment of BSE and NSE.

The company is also a member of the OTC Exchange of India (OTCEI). The company is also registered as a depository participant with Central Depository Service (India) Limited (CDSL).

Its service portfolio includes trading, research, mutual funds, insurance, MTF, IPOs, depositories, Investing in the world market, etc.

Segment revenue breakup includes 55% from equity/commodity broking, 17% from financing activities & and 28% from others.

The financial statements of the company reported a 5% increase in revenue from operations, increasing from Rs.46.55 Cr in FY22 to Rs.48.81 Cr. in FY23. The net profit stood at Rs.9.26 Cr, decreasing 33% from Rs.13.95 Cr. in FY22. 

ParticularsAmountParticularsAmount
CMP 2.95Market Cap (Cr.)225.12
EPS(TTM)0.09Stock P/E 28.28
RoE4.54%RoCE6.24%
Promoter Holdings26.40%FII Holdings0.00%
Debt to Equity0.13Price to Book Value1.07
Operating Margin26.18%Net Profit Margin18.97%

Bonus

RattanIndia Power Limited is one of India’s largest private power generation companies, with an installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra. RattanIndia appears to have good opportunities but has been a loss-making entity for the last 5 years. The loss for FY23 stood at Rs 632 Cr. and revenue stood at Rs 796 Cr. The CMP of the stock is 9.44.

Top Stocks under Rs 10

CompanyCMPMarket Cap
RattanIndia Power 9.455074.76
Unitech9.312435.77
GTL Infrastructure 1.331703.34
Vikas Lifecare5.14738.58
Reliance Communications2.38658.19
Nagarjuna Fertilizers & Chemicals 9.94594.51
Mangalam Industrial Finance4.834.83
Vikas Ecotech3.40460.15
GACM Technologies 1.12346.63
Toyam Sports5.43306.96

Things to keep in mind before buying stocks under Rs 10

Investors should be cautious while evaluating whether they want to invest in these stocks or not. New investors who do not have a portfolio approach think that they are getting to buy stocks at a beaten-down price.

They think that they will not lose too much if the share price drops further, and make multi-bagger returns when the share price goes up. However, they might also lose 100 percent of their capital while investing in these stocks.

Though these stocks can be highly rewarding, they involve a very high amount of risk. Investors can use about 2% to 3% of their portfolio’s value to invest in such stocks.

In Closing

In the article, Top Stocks Under Rs 10 In India To Keep a Watch For In 2024 we have looked into the financials of a few best stocks under Rs 10. However, it is important to analyze these stocks thoroughly and look at their business perspective before investing. Understanding risk & return characteristics and suitability is also important.

Do comment on your thoughts in the section below. 

Written By Ashish Agarwal

By utilising the stock screener, stock heatmap, portfolio backtesting, and stock compare tool on the Trade Brains portal, investors gain access to comprehensive tools that enable them to identify the best stocks, also get updated with stock market news, and make well-informed investment.


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