Penny stocks are investments in small companies that can be purchased for less than $5 (about 74.58 INR) per share. Knowing the best penny stocks to buy now can be difficult given the current financial downtrend in the market.
This roundup would explore some of the best stocks to invest in 2022. We’ll also show you how to buy stocks on the social trading platform eToro.
Top 5 Best Penny Stocks India to Buy in 2022
This list should get you started on best penny stocks to buy now:
- Lucky Block - Most Promising Crypto with High Growth Potential
- Orosil Smiths India - Best Penny Stock to Buy Now For Impressive Gains
- Tine Agro - Top Penny Stock for Textile Sector
- Arc Finance Ltd - Best Penny Stocks in 2022 for Finance
- IL & FS Engineering and Construction - Best Penny Stock to Invest in 2022 for Construction
A Closer Look At The Most Promising Stocks for 2022
The global stock market has shrunk in size following the global health crisis and the foreclosure of several businesses. However, some outliers have continued to thrive, and this section will explore the best penny stocks to buy now for huge growth in the coming months.
- Lucky Block (LBLOCK)
Even though Lucky Block does not fit into the traditional definition of a ‘stock,’ the blockchain protocol has been steadily growing in the last few weeks. Launched earlier in January 2022, Lucky Block’s governance token “LBLOCK” has surged more than 2,000% from its pre-sale price of $0.00015. The digital token recently hit an all-time high (ATH) of $0.009617 in the last 24 hours.
At press time, LBLOCK trades at $0.009017, up 7.13% in the past day. This meteoric rise sees the crypto lottery platform grow over 1,200% from its all-time low (ATL) of $0.0066 on February 2.
Given its core vision, Lucky Block has remained a clear favourite for the best crypto to buy now. Following the general layout of the crypto space, Lucky Block aims to revolutionise the online gambling space by making it easier for players to make gains.
You can buy LBLOCK tokens via PancakeSwap and you can join the Lucky Block Telegram group for all the latest news and updates.
- Orosil Smiths India (OROSMITHS)
Orosil Smiths India is one of the best stocks to buy now. Founded in 1994, Orosil Smiths India, formerly Silver Smith India, has set new standards in designing and producing high-end couture jewellery. Orosil Smiths India’s mission is quite simple: to make sure that the common person can afford jewellery.
Orosil Smiths India surged 125% in a strong January showing. At the moment of writing, OROSMITHS is trading at 6.73 INR after tailing off a surge of 10.75 INR in late January.
OROSMITHS is still expected to make a comeback as the global economy picks up steam after battling the global health crisis.
- Tine Agro (TINEAGRO)
Want to know the best penny stocks to watch? Then Tine Agro Ltd is one of them. Operating in the textile sector, the company is focused on enabling business continuity for spinners, weavers, knitters, combers, manufacturers, producers, and processors of all kinds of yarns.
Tine Agro also interfaces with nylons, polyesters, rayon, silk, and other fibrous materials.
The stock price of Tine Agro has continued to soar despite the slow growth in the stock market. At the moment, TINEAGRO is trading at 34.85 INR, up a modest 4.97% in the last 24 hours.
The trading chart shows that penny stock is soaring above the 50-hour exponential moving average (EMA), indicating a price of 16.95 INR. This shows a brimming bullish run in the coming days. The moving average convergence and divergence (MACD) point to a strong buy signal as interest picks up once more.
- Arc Finance Ltd (ARCFIN)
Loan advancement firm Arc Finance Limited has not been left behind in the recent growth of the penny stocks era. The non-deposit taking, non-banking finance company, surged 104.93% in the past year, showing a strong rally.
Arc Finance Ltd. has not since tapered off but has maintained a strong bullish disposition. The ARCFIN stock currently trades at 55.30 INR, up 4.93% in the last 24 hours.
ARCFIN is soaring above the 50-hour EMA of 26.95 INR, while the relative strength index (RSI) figure of 100.37 shows that the asset is trading in the overbought region.
- IL & FS Engineering and Construction (IL_FSENGG)
IL & FS Engineering and Construction is one of the best penny stocks to buy now as the firm continues to ride into the year on a strong footing. The company is one of the leading multi-national infrastructure firms in India.
IL & FS Engineering offers multiple services in the engineering firm, including project management and consulting, public-private partnership, construction, and engineering.
IL_FSENGG has risen 106.62% in the past year after coming from 5.8 INR to its current price peg of 14.80 INR (up 4.96% in the past day). The penny stock has maintained a strong upbeat and looks likely not to slow down anytime soon.
IL_FSENGG is trading above the 50-hour EMA price of 12.85 INR, but its MACD shows a slight sell-off signal. The RSI figure of 48.80 shows that the stock is trading in the underbought region.
How to Buy the Best Stocks to Invest in 2022
While there are several options now in the market, we recommend using a reputable stock broker that offers access to the best penny stocks to buy now and guarantees low fees.
How to Buy Lucky Block
Lucky Block is our top pick for the best stocks to buy now, although it does not fall into the conventional niche of a company’s stock. However, since we are keen on locating high-yield investments, Lucky Block is as good a good pick as any.
You can now buy Lucky Block on PancakeSwap. To buy Lucky Block, you’ll need to follow these steps:
- Visit PancakeSwap Website
Visit the PancakeSwap website. Ensure the URL address has a padlock icon to avoid interacting with a scam website.
- Connect Wallet
LBLOCK is a digital asset, which means you’ll need a digital wallet to buy and store the Lucky Block token.
Tap the ‘Connect Wallet’ icon on the top right corner. Choose which you want and connect your wallet to the PancakeSwap website.
- Buy BNB
Binance Coin (BNB) is currently the only digital asset that you can use to buy Lucky Block token. You’ll need to buy BNB if you don’t have some. You can easily get some from centralised exchanges like Binance Coin or eToro.
Once you have made the purchase, transfer the digital token to your Metamask or Trust Wallet.
- Insert Lucky Block Contract Address
Once you have deposited BNB into your wallet, click on the ‘Trade’ button and tap on ‘Exchange’. Switch the positions of BNB to the ‘From’ section.
To Purchase LBLOCK, you will have to enter the contract address.
LBLOCK Contract Address: 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
- Buy LBLOCK
Select ‘LBOCK’ in the ‘To’ space. Enter the amount, set your slippage level, and click on ‘Swap’ to complete the transaction.
Cryptocurrency markets are highly volatile and your investments are at risk.
How to Buy Stocks on eToro
The eToro platform is a one-stop-shop for all kinds of financial investments. eToro is a social trading platform that enables users to trade and learn.
The platform also comes with some useful tools, including the CopyTrader, which allows users to copy other advanced traders to make a profit.
There’s also the CopyPortfolio tool, which helps users properly diversify their investments across top-performing industries. If you are looking for the top place to invest in the best stocks in the world now, then eToro should be your first port of call.
You can easily open and start investing on eToro in less than 10 minutes.
68% of retail investor accounts lose money when trading CFDs with this provider.
- Open an Account with eToro
Visit the eToro website. Tap on the ‘Register Now’ button. Fill in the required details and click on ‘Create Account’ to open your new eToro account.
- Verify ID
eToro is regulated by reputable bodies like the UK’s Financial Conduct Authority (FCA), which means you’ll need to complete your verification to proceed. Upload your driver’s license and recent utility bill.
- Deposit
You can deposit by tapping on the ‘Deposit Funds’ button under your profile icon. Enter the amount to fund your account with. Then select supported payment methods and click on ‘Deposit’ to complete the process.
- Buy Stock
Type the ticker symbol for your preferred stock and click on the ‘Trade’ button to open the order page. Then you can insert how much you want to invest and tap on the ‘Open Trade’ icon to complete the transaction.
Conclusion
Getting your hands on the best stocks to buy now should not be difficult. While these penny stocks may seem like fringe investments, they hold strong potential for growth.
You can easily invest in these stocks and several other investment classes using the eToro platform. You get to enjoy low fees, the CopyTrader tool, as well as a user-friendly platform.
68% of retail investor accounts lose money when trading CFDs with this provider.
