New Delhi, Aug. 21 -- Penny stocks may trade at low prices, but when backed by strong fundamentals, they can turn into hidden gems.

Many seasoned investors focus on companies that appear undervalued yet possess strong balance sheets and long-term growth potential.

One metric that often stands out is book value. A high book value not only reflects financial stability but also hints at intrinsic worth that the market may not have fully recognised.

For investors willing to take calculated risks, here are three high book value penny stocks to keep on your watchlist.

Elpro International operates across multiple sectors, including electrical equipment manufacturing, real estate, investments, and renewable energy through windmills.

The comp...