Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
Penny stocks such as Rajrayon Industries, Alps Industries, Zenith Birla India and Radaan Mediaworks India have given handsome returns in the past one month to become multibaggers.
Stock prices ranging in low single digit are known as penny stocks, and they typically have high volatility associated.
On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time.
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These stocks rose 78 per cent, 93 per cent, 86 per cent, and 60 per cent in the past one-month, exchange data showed.
During the same period, benchmark Sensex and Nifty indices too performed well, rising over 10 per cent each.
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