Penny Stocks in India: Under ₹100

278 Indian companies worth ₹500 crore or more trade under ₹100 a share at prices of 16 October 2026, and 23 trade under ₹10. The biggest by market value are Vodafone Idea, Indian Railway Finance Corporation and GMR Airports. 110 of the 278 have earnings per share up over the last 12 months.

Earnings growth is earnings per share over the last 12 months against the 12 months before. Debt to equity is borrowings divided by the shareholders' money, from the latest annual report. "Equity below zero" means past losses have wiped out the shareholders' money, so the company owes more than it. The quality score runs from 0 to 100 and looks at return on capital, financial strength and steady profits, against companies in the same industry. "Traded in a typical week" is the median weekly volume over 20 weeks times the latest weekly close.

Download all 278 (CSV). "vs Nifty 500" is the stock's return minus the Nifty 500's over 3 months, in percentage points.

Prices as of 16 October 2026, updated every weekend. Sorted by market value

Penny stocks are shares that trade at a low price. In India people usually mean under ₹100, sometimes under ₹10. This page lists 278 such companies, all worth ₹500 crore or more. A low price only tells you how the company split its shares, not how big or how good it is.

The rule in one line: a company is here when its share price is under ₹100 and it is worth ₹500 crore or more.

We only track companies worth ₹500 crore or more, so the tiniest penny stocks are not here.

Left out: 5 infrastructure and property trusts (InvITs and REITs) whose units cost under ₹100. A unit in a trust is not a share in a company.

36 of the 278 are banks or other lenders. Borrowing is their business, so their debt is shown as "lender" and they are left out of the debt checks below.

Price rule checked every weekend

37 of the 172 penny stocks with all three figures on record pass three checks at prices of 16 October 2026. Earnings per share are up over 12 months, debt is under half of equity and the quality score is 50 or more. Lenders are not checked. The biggest are NMDC, Suzlon Energy and Vishal Mega Mart.

The rule in one line: earnings per share above a year ago, borrowings under half of the shareholders' money and a quality score of 50 or more. Lenders are not checked.

Passing these tests describes the last 12 months. It says nothing about what the share price does next.

The rule is fixed and checked every weekend. Debt from the latest annual report

52 of the 226 penny stocks with a debt figure have almost no debt, under 0.1 times equity. The biggest are Suzlon Energy, NBCC and Lloyds Engineering Works. 22 of these 52 also have earnings per share up over 12 months.

Debt from the latest annual report, checked every weekend. Lenders left out

23 companies worth ₹500 crore or more trade under ₹10 a share. The lowest are GTL Infrastructure (₹1.04), Sadhana Nitro Chem (₹2.36) and Jaiprakash Associates (₹2.42). 6 of the 23 have earnings per share up over 12 months, and 6 owe more than their shareholders' money.

Under ₹5: GTL Infrastructure, Sadhana Nitro Chem, Jaiprakash Associates, Unitech, Rama Steel Tubes, Salasar Techno Engineering.

Prices as of 16 October 2026, updated every weekend

None of the 1,962 Indian companies worth ₹500 crore or more trades under ₹1 a share at prices of 16 October 2026. The lowest prices are GTL Infrastructure (₹1.04), Sadhana Nitro Chem (₹2.36) and Jaiprakash Associates (₹2.42). Shares under ₹1 do exist, but they belong to companies smaller than the ₹500 crore floor of this list.

The 5 lowest share prices on this list

Prices as of 16 October 2026, updated every weekend

Of the 278 penny stocks here, 92 have earnings per share lower than a year ago and 55 owe more than their shareholders' money. For 15 of those, past losses have pushed that money below zero. 16 of 247 trade less than ₹1 crore in a typical week, so a few orders can move the price a lot.

A low price is not the same as good value

A ₹5 share is not "cheaper" than a ₹500 share. What you pay for is a slice of the company, and the market value tells you what the whole company costs.

A company with 100 crore shares at ₹5 is worth ₹500 crore. One with 1 crore shares at ₹500 is worth the same.

The useful checks are the ones in the tables here: are earnings rising, how much does the company owe, and does the share trade enough.

Thin trading

When only a little trades each week, a few orders can move the price a lot, in both directions. It can also take days for an order to fill at a fair price.

The 15 least traded

Trading value is the median weekly volume over the last 20 weeks times the latest weekly close. 31 stocks have too short a record to measure.

Weekly trading from NSE volumes, week to 9 October 2026. Updated every weekend

The most traded penny stocks are Vodafone Idea (₹3,018 cr a week), PC Jeweller (₹1,824 cr a week) and Ola Electric Mobility (₹1,462 cr a week). 40 of the 247 trade ₹100 crore or more in a typical week.

Median weekly trading over 20 weeks, to 9 October 2026. Updated every weekend

1 penny stock is a large cap, 13 are mid caps and 264 are small caps. The biggest is Vodafone Idea at ₹1,40,846 crore.

Size = rank by market value across every company we score: top 100 large cap, next 150 mid cap, the rest small cap. Updated every weekend

Penny stocks come from 117 industries. The most are in Trading (14), Finance & Investments - Others (13) and Entertainment & Media (11).

Industries follow NSE industry groups. Updated every weekend

8 penny stocks carry a big group's name: Tata (1), Birla (2), Reliance (2), Bajaj (2) and Jindal (1). None carries Adani, JSW, Vedanta or Mahindra. A shared name does not always mean the same owner.

Matched on the company name. Prices as of 16 October 2026, updated every weekend

99 of the 219 penny stocks with a P/E history trade above their own usual P/E (P/B for lenders), 10 sit exactly at it, and 110 below. The furthest below their own history are Elitecon International (-85%), MSP Steel & Power (-80%) and Insolation Energy (-77%).