Upstox Originals
Fundamentally sound, recently down: 20 stocks to be aware of
4 min read | Updated on October 05, 2024, 14:20 IST
SUMMARY
The Nifty50 has corrected ~5% in the past week, largely influenced by global uncertainties. In this article, we’ve curated a list of the top 20 stocks that have dropped over 5% in the last week but still boast strong fundamentals. While this is not an investment recommendation or a forecast of market direction, it’s worth noting that every dip can present a potential buying opportunity for the informed investor.
Markets have corrected ~5% last week and are expected to remain on an edge
Let’s be honest, its been a tough week. The Nifty50 has corrected ~5% over this last week. Global events have played truant and from the looks of it, are likely to keep the markets on edge.
While I make no claims of knowing where the markets will go from here, this is what I do know, since the pandemic, almost every market dip has been brought into.
While global events continue to spike uncertainty, India’s fundamentals remain relatively robust. The rate cut cycle is yet to begin and that could further bolster equity markets.
In light of these facts, below is a list of the top 20 stocks that have corrected more than 5% over this week only.
Please note: These are not an investment recommendation.
What does the screener below include?
- Companies have corrected more than 5% over the past week; and
- Have a market capitalisation of more than ₹10,000 crore; and
- ROE > 20%; and
- Debt to equity < 2.0; and
- A positive cumulative 3Y free cash flow; and
- Have corrected more than 15% from their 52W high
Stock screener
| # | Name | Mar Cap (₹ crore) | Sector | 1wk return % | 6mth return % | D:E | ROE % | % Down from 52W high |
|---|---|---|---|---|---|---|---|---|
| 1 | Newgen Software | 18,141 | IT | -8.5 | 62.0 | 0.0 | 22.7 | 16.4 |
| 2 | Voltamp Transformers | 12,376 | Capital Goods | -7.9 | 24.0 | - | 24.3 | 17.3 |
| 3 | Raymond | 11,012 | Realty | -7.8 | 39.9 | 0.9 | 44.5 | 30.5 |
| 4 | Motherson Sumi Wiring India | 29,794 | Auto Ancillaries | -6.9 | -4.1 | 0.2 | 42.5 | 15.7 |
| 5 | Action Construction Equipment | 15,754 | Capital Goods | -6.9 | -16.0 | - | 30.6 | 22.0 |
| 6 | Solar Industries India | 99,104 | Aerospace & Defence | -6.7 | 26.5 | 0.3 | 30.9 | 17.7 |
| 7 | JK Tyre & Industries | 10,563 | Auto Ancillaries | -6.5 | -5.3 | 1.0 | 20.6 | 26.9 |
| 8 | Castrol India | 22,606 | Auto Ancillaries | -6.5 | 9.2 | 0.0 | 42.5 | 19.7 |
| 9 | Tata Motors | 3,42,487 | Auto | -6.3 | -7.6 | 1.3 | 49.4 | 21.1 |
| 10 | Rail Vikas Nigam | 1,02,925 | Infrastructure | -6.3 | 86.8 | 0.8 | 20.4 | 23.7 |
| 11 | Concord Biotech | 20,079 | Pharma | -6.2 | 25.1 | 0.0 | 20.9 | 27.9 |
| 12 | C D S L | 28,712 | Financial Services | -6.1 | 45.8 | - | 31.3 | 17.5 |
| 13 | Mrs Bectors Food Specialities | 11,286 | FMCG | -5.9 | 60.9 | 0.4 | 23.2 | 16.4 |
| 14 | Tata Technolog. | 42,924 | IT | -5.7 | -5.7 | 0.1 | 21.9 | 24.5 |
| 15 | I R C T C | 69,792 | Railways | -5.6 | -13.0 | 0.0 | 40.5 | 24.0 |
| 16 | Bharat Electronics | 2,02,663 | Defence | -5.5 | 23.5 | - | 26.3 | 18.6 |
| 17 | L&T Technology | 53,663 | IT | -5.3 | -12.7 | 0.1 | 25.8 | 15.5 |
| 18 | LIC | 6,14,157 | Financial Services | -5.2 | -2.2 | - | 63.5 | 20.5 |
| 19 | Fertilizers & Chemicals Travancore | 58,939 | Fertilizers | -5.2 | 30.3 | 1.3 | 29.4 | 23.2 |
| 20 | Indus Towers | 1,00,479 | Telecomm | -5.2 | 18.5 | 0.8 | 24.2 | 19.2 |
Source: Screener; Data as of October 04th, 2024
About The Author
Next Story
