Rising market boosts penny stocks

About 145 of these scrips have given returns in excess of 100% in past year

A rising tide is said to lift all boats and the surge in the share market has done this with lesser known stocks.

The value of many penny stocks doubled over the past year. Data compiled by the BS Research Bureau show 145 of these scrips gave a return in excess of 100 per cent; a dozen gained more than 300 per cent. In contrast, the benchmark BSE Sensex rose only 23 per cent, while the BSE MidCap index gained 40 per cent.

Penny stocks are those available in the Rs 1-10 price range, with market capitalisation (m-cap) less than