Penny stock are an investment made with the aim of getting the highest returns. These are high risk investments as the trading volumes are low and hence they are illiquid in nature.
Here are 4 penny stocks in which State Bank of India has invested in December quarter 2023.
Tamil Nadu Telecom Limited
Tamil Nadu Telecom Limited is one of the largest manufacturers of optical fiber cables in India. It has a diverse portfolio whose products range from manufacturing of state-of-the-art optical fiber cables.
Before the end of the session, the penny stock declined marginally and ended at Rs 6.90.
In the past six months, shares have declined by more than 12 percent.
Its market capitalization is Rs 31 crore. State Bank of India holds 9.30 per cent stake in the company with a holding value of Rs 2.9 crore. Meanwhile, the promoters hold 63.63 per cent and have not pledged any shares.
Rajshree Sugars & Chemicals Limited
Shares of Rajshree Sugars and Chemicals declined by over 3.5 per cent and ended the day at Rs 47.90. In the past six months, the stock has gained over 35 per cent.
Rajshree Sugars & Chemicals Limited has interests in integrated sectors such as sugar, distillery, power and biotechnology. The company also has presence in the green power sector.
The market capitalization of the penny stock is Rs 164 crore. State Bank of India holds 9.36 per cent stake in the company with a holding value of Rs 15.4 crore. The promoters hold 40.66 per cent and have pledged 100 per cent of it.
MSP Steel & Power Limited
Shares of MSP Steel & Power fell 2.5 per cent to close at Rs 9 on Friday. In the last six months, the stock has declined by more than 6 per cent.
MSP Steel & Power Limited is one of the leading steel companies in the country. The company is present in the value chain of rolled long products, except captive iron ore and coal mines. Its clients include names such as Bharat Heavy Electricals Limited, Dilip Buildcon and National Highways Authority of India.
State Bank of India holds 11.27 per cent stake in the company with a total holding value of Rs 40.2 crore. The promoters also hold 41.62 per cent and have pledged 100 per cent of it. The market capitalization of MSP Steel & Power is Rs 356 crore.
Consolidated Construction Consortium Limited
Shares of Consolidated Construction Consortium closed on the green mark at Rs 1.40 on Friday. The penny stock has been trending downward and has dropped nearly 16 percent in a month.
Consolidated Construction Consortium Limited (CCCL) is an integrated turnkey construction service provider engaged in building design, engineering, procurement, construction and project management.
The market capitalization of the penny stock is Rs 53 crore. State Bank of India has a higher stake of 29.35 per cent in the company with a holding value of Rs 15.8 crore. The promoters hold 15.16 per cent and have pledged 77.99 per cent of this.