Penny stocks are often seen as the riskiest corner of the market, associated with low liquidity, sharp volatility and speculative trading. But over the last five years, a handful of forgotten microcaps have delivered extraordinary wealth creation. Data compiled by ETMarkets shows several stocks that traded below Rs 20 in May 2021 have now become Rs 3,000 crore to Rs 12,000 crore companies, powered by themes such as defence, renewables, railways and infrastructure.
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