In a recent move to protect retail investors, the Bombay Stock Exchange (BSE) has issued a cautionary circular on Thursday, May 14, warning against trading in seven specific penny stocks. The stocks flagged include Enbee Trade & Finance, Tirupati Tyres, Pradhin, Onesource Industries and Ventures, Remedium Lifecare, Murae Organisor, and Sharanam Infraproject and Trading.
Of the seven scrips, six are trading below ₹2, with Tirupati Tyres being the only exception, currently priced at ₹10.39. Notably, Remedium Lifecare is the sole stock in the list with a market capitalization exceeding ₹100 crore, valued at ₹154.85 crore. Public shareholding in these companies stands at nearly 100%, with promoters holding little to no stake — a factor that often raises red flags regarding governance and transparency.
The BSE has urged investors to exercise extreme caution, particularly when receiving stock recommendations via unauthorized or unregistered sources such as WhatsApp, Telegram, SMS, phone calls, or other social media platforms. The exchange has also warned against falling prey to promises of high or assured returns being circulated through YouTube, Instagram, and other digital channels.
Stock performance also reflects volatility. Enbee Trade hit a 5% lower circuit at ₹0.68 on Wednesday, touching its 52-week low and holding a market cap of ₹38.87 crore. Tirupati Tyres fell 2% to ₹10.39 and is currently down over 80% from its 52-week high. Pradhin also dropped 3% to ₹0.37, mirroring a similar 80% decline from peak levels.
In contrast, Onesource Industries and Ventures hit the upper circuit of 5%, trading at ₹1.55 with a market cap of over ₹80.5 crore, though it remains 36% below its 52-week high. Remedium Lifecare saw a 2% gain, priced at ₹1.73, despite being down 88% from its peak of ₹15.13. Murae Organisor also surged 5% to ₹1.55, although still 43% off its yearly high. Meanwhile, Sharanam Infraproject and Trading remained flat at ₹0.47.
In summary, while penny stocks might tempt some with their low prices and high return potential, BSE’s warning makes it clear: trading based on unverified tips is risky business. As always, due diligence and proper research remain the best safety nets for investors.
