Here are some stocks that have gone up without fundamentals backing them. We expect them to correct very soon. In a bull market, practically everything goes up, irrespective of the fundamentals. The ongoing bull market has also seen certain stocks racing despite weak fundamentals. Below is a list of such companies. These companies have witnessed falling returns on equity and capital employed, negative EPS growth, and a rising debt-to-equity ratio during the last five years. Their current debt to equity stands at more than one and their current ROE and ROCE are less than 12 percent.
In spite of their weak fundamentals, the stock prices of these companies have grown by 10 per cent or more during the past five years. Since markets have a tendency to fix such anomalies, these stocks are ripe for a correction.
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