Again to clarify some facts.
1. Bajaj Finance was never a penny stock. New members must first learn to read stock price charts. All past prices are adjusted to any bonuses , splits and rights given over a period of time to get a clear picture of price movements. Bajaj Finance split & bonus when adjusted to actual price of face value 10 in 2009 was Rs.60/-. In 2009 & 2010 Bajaj Finance paid dividend of Rs.2/- and Rs.6/-! Obviously a penny stock will not pay dividend higher than the market price making it 100% returns !
Price of Rs.60 was lowest available for few days due to successive downward circuit & exchange freeze globally including India due to Lehman brothers crisis. In this crisis similar to one that happened this year March 22nd , no investor could catch shares at those prices, also did not have brave heart. In 2009, one can see Infosys price as 141. Infy was never available less than 500 after 1998. 141 again is an adjusted price for several bonuses , splits later.
2. High risk , high reward is when one invests in a high priced share with large downside risks. Say for example buying MRF at 50000, Nestle at 16000, Honeywell at 28000 and so on.... Buying a low priced stock like Yes Bank is low risk and seeking high rewards. Having lost it's fundamentals , it may be another decade or may even get merged with losses to shareholders as it happened in merger of Centurion Bank with HDFC Bank, Bank of Rajastan with ICICI ..so on with an unfavorable ratio. In merger of Global Trust bank with Oriental Bank , no shares given to Global trust shareholders.
3.Again a stock that falls 95% gets bought by many investors with hope, it may at least retrace 50% of its previous heights. Unfortunately , in the market money moves to next potential stock or multi bagger. Multi baggers don't always come from cheapest stocks. One has to identify it. For eg, those who purchased,
MRF bought at 3000, 5000, 7000, even 10000 saw a price of 60000 to 70000
TTK Prestige available at 90 , 200, 500, 800 saw a price of 6500
Hawkins Cooker available at 35, 50, 100, 200, 500 to a price of 4000
Many such stories like Symphony, Abbot, Nestle, Natco Pharma, ..are abound in the market . None of them were beaten down stocks. Therefore there is no stock that can fall to penny and regain to be multi bagger. In 2015, several investors on this board bought Suzlon at prices ranging from 15 to 20 as it fell from 800 hoping to get a price of 200 or at east 100. With marquee investors pumping n money to save Suzlon and GOI s thrust on wind energy more and more got convinced to buy Suzlon against Nestle that had fallen to 5000 due to Maggi crisis. Many felt buying 300 Suzlon was better than buying 1 Nestle. 5 years down today, Suzlon is at 4.50 and Nestle at 16000!. Most boarders of those days have vanished now.
Trust above narrative helps to understand the market better. Incidentally few well informed members on this board give regular advice and continuing from past 5 years. They are the ones with right feel of market , in-depth experience ,but, write less with lots of sense , conviction about a stock without unnecessary marketing as others do.