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Penny stocks that gained during the May-June correction

Published on Fri, Aug 25, 2006 at 15:25 | Source : Moneycontrol.com

Updated at Sat, Aug 26, 2006 at 14:33

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35 stocks, 26 of them below Rs 10 levels have actually gained during the period between May 11 and June 14, the period during which Indian equity markets underwent a severe correction. This data suggests that these Penny stocks were more resilient in withstanding the onslaught of the bear brigade.

The correction began on May 11 after touching all-time high of 10612.38 points on May 10 and ended on June 14 when the Sensex had closed at 8929.44 points.

The biggest gainer during these volatile times was Setco Automotive with a bumper gain of 217%. Marathon Nextgen gained 205% to emerge as the runner-up during the period considered as one of the severest corrections by market experts.

Other note worthies that bucked the trend include stocks such as Poonam Corp (up 102.7%), Proto Infosys (up 69.82%), Mahalaxmi Rubtec (up 55.56%) and Neha International (up 52.98%).

Interestingly, despite a majority of these being penny stocks, they are traded on a regular basis.

Company	Close price (Rs) as on		Gain (%)
Company	11/5/2006	14/06/2006	Gain (%)
Setco Automotive	24.35	77.4	217.86
Marathon Nextgen	73.3	224.1	205.73
Poonam Corp	3.7	7.5	102.70
Proto Infosys	1.69	2.87	69.82
Mahalaxmi Rubtec	10.8	16.8	55.56
Neha Intl.	4.7	7.19	52.98
Lynx Machinery	26.1	38.9	49.04
Link House Inds	15.9	22.7	42.77
Integ. Hitech	1.66	2.31	39.16
Enrich Inds.	1.21	1.68	38.84
SAARC Net	0.81	1.1	35.80
Peerless Abasan	9.5	12.75	34.21
Gandhimathi Appl	7.56	9.98	32.01
Raghunath Intl.	5.35	7.05	31.78
Sumeru Inds	0.61	0.8	31.15
ICNET	3.26	4.19	28.53
Dhanalaxmi Roto	14.56	18.7	28.43
TCI Inds.	1327.3	1633.5	23.07
GEE	268.3	326.8	21.80
Millennium Beer	14.74	17.95	21.78
Satra Properties	285.95	347.3	21.45
Press. Senstive	2.24	2.6	16.07
Entegra Infrastr	17.75	20.25	14.08
Vinay Cements	12.15	13.85	13.99
Sam Inds.	20.65	22.9	10.90
Incon Engineers	5.18	5.74	10.81
Polychem	73.85	80	8.33
Inter State Fin	0.52	0.56	7.69
Bisleri Gujarat	0.33	0.35	6.06
RTCL	5.04	5.25	4.17
BKV Industries	2.33	2.42	3.86
Swasti Vin. Gems	5.34	5.54	3.75
Devki Leasing	2.73	2.8	2.56
Ritesh Intl.	3.35	3.42	2.09
Phoenix Lamps	97.75	99.4	1.69