Penny stocks that delivered multi-fold returns in 2022

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At a time when the broader market indices have struggled to rally in 2022, several penny stocks managed to accumulate handsome gains for their investors.

Shares such as Kaiser Corporation, BLS Infotech, Khoobsurat, Madhusudhan Securities, and Kiran Syntex, at least more than doubled in the year-to-date period.

Kaiser Corporation shares rose over 400 per cent so far in 2022. On Tuesday, it closed at Rs 15.65, as compared to its share price of around Rs 3 at the end of December 2021.

As per its website, it is in the business of printing of labels, stationery articles, magazines, cartons, among others.

Stock prices ranging in single digit are known as penny stocks, and they typically have high volatility associated with them.On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time.

BLS Infotech shares rose around 390 per cent in 2022, Khoobsurat 380 per cent, Madhusudhan Securities 210 per cent, and Kiran Syntex rose over 200 per cent, BSE data showed.

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