Shares of penny stocks such as Swastika Vinayaka Synthetics, Swastika Vinayaka Art, and HB Stockholdings rose over 80 per cent in the past five trading sessions.
Penny stocks are those whose share price is very low — typically in single digits — and 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.
On Monday, Swastika Vinayaka Synthetics, Swastika Vinayaka Art, and HB Stockholdings hit the 10 per cent upper circuit, the maximum possible rise in stock prices in a single trading session.
Accordingly, they settled at Rs 12.7, Rs 8.8, and Rs 71.5 apiece, respectively.
Company-wise, Swastika Vinayaka Synthetics deals in apparels and fabrics, while Swastika Vinayaka Art is engaged in the sale of jewellery, carvings, gemstones and diamonds and renting immovable properties.
Besides, BC Power and SSPDL shares rose 33 per cent and 66 per cent, respectively, in the past one week. Both the stocks, however, fell sharply on Monday, possibly due to profit booking by the investors.
BC Power is a cable and wire manufacturer, while SSPDL is a real estate firm with focus in southern India.