Penny stocks and the auto ancillary sector emerge as two exciting realms, beckoning investors with the promise of substantial gains and growth opportunities.
Penny stocks, renowned for their low price and high volatility, have the potential to yield remarkable returns in a short span.
On the other hand, the auto ancillary sector, a critical component of the automotive industry, thrives on innovation and technological advancements, offering lucrative prospects for those seeking to capitalize on its growth.
Combining the two and voila! The growth potential of penny stocks with the resilience of auto ancillary stocks could potentially lead you towards your next multibagger stock.
When a penny stock involved in the auto ancillary sector announces a groundbreaking partnership, or if it announced a cutting-edge product, or be it a lucrative contract, it could spark a surge in investor interest and propel the stock higher.
Compared to pure play auto companies, the auto ancillary space presents a much bigger opportunity. We all know that hundreds of components, such as battery suspensions, exhaust systems, and axles, are required to make a car.
The demand for auto components is further expected to go up as the government has tightened safety norms for vehicles.
And with the EV revolution picking up pace, auto ancillary stocks look like the perfect proxy play to ride sectoral tailwinds.
Here are the top penny stocks from the auto ancillary space. These companies are trading at less than Rs 100 per share.
It’s important to note that the gains in top auto ancillary stocks are linked to the auto industry. So do your due diligence before investing and consider only the fundamentally strong stocks as the sector is cyclical in nature.
Nov 30, 2023
Three reasons why Rekha Jhunjhunwala acquired 90,006 shares of this company via a bulk deal on 29 November 2023.
Nov 17, 2023
This industry is poised for significant growth in the coming years, especially in 2024 with elections just around the corner.
Nov 9, 2023
The company makes a wide range of aesthetic products catering to segments including two-wheelers, passenger vehicles, commercial vehicles, consumer durables, and appliances.
Sep 22, 2023
Rekha Jhunjhunwala recently picked up additional stake in this multibagger realty company. What's brewing?
Jul 7, 2023
Shares of this auto ancillary firm are up over 90% in the past three months. A healthy order book suggests the company is all set to win the race against its peers.
Jun 5, 2023
Auto and auto ancillary stocks have seen an explosion of interest over the past couple of months. The BSE auto index is up over 21% in a little over two months.
May 10, 2023
Despite a weak quarter, this EV battery maker is rewarding shareholders with a hefty dividend. Find out more details inside.
May 4, 2023
Find out why Rakesh Jhunjhunwala & Associates trimmed stake in this auto ancillary company for the third consecutive quarter.
Apr 18, 2023
According to a BSE statement, Kedia bought 1 million shares, translating into a 1.1% stake in the company.
Jan 12, 2023
With China reopening, find out why I believe it makes more sense to play these proxy sectors.
Nov 24, 2023
Munjal Auto is on a winning streak of hitting new 52-week highs in the last five trading sessions.
Nov 10, 2023
This midcap company is making the most of the disruption in the automobile sector.
Nov 6, 2023
From grey market premium to price band, here's everything you need to know about one of the leading auto ancillary players.
Aug 25, 2023
This microcap stock has rallied over 50% in the past five days. Apart from Kacholia's bullish stance, what's driving the rally?
Jul 3, 2023
Shares of JBM Auto touched their 52 week high today. Here's what is driving the company's share price.
Jun 3, 2023
Data released on Friday showed that Sumeet Nagar's fund sold over 2 million (m) shares of this auto ancillary firm. More details inside...
May 5, 2023
Tyre stocks are suddenly speeding up. What suddenly changed?
Apr 19, 2023
Here's why the investor increased his stake in the company after paring it in the December 2022 quarter.
Mar 16, 2023
Auto ancillary stocks are a perfect proxy play on the revival of the automobile sector.
Dec 28, 2022
Amara Raja has fallen over 12% in the past few sessions. It has also underperformed in the last three years due to the pandemic and increasing raw material costs.