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17 August 2012

Stock Screeners for Indian Markets

In one of our earlier posts, we mentioned that a list of stocks near their 3 year lows, can be a
good starting point for selecting stocks to invest in. This may not be a fool proof method of
picking good stocks, but if the initial list is based on stocks which are included in indices of
repute, like Nifty50, Sensex, etc., then possibility of going wrong with such stocks is greatly
reduced.

Another approach to find quality stocks is to use Stock Screeners. A stock screener is a tool
which filters out stocks based on a variety of parameters. Some of these parameters can be
P/E, P/BV, Growth Rate, ROC, ROE, etc. We do use a few free ones and would like to share
the details here.

Note- This is not a paid promotion of these sites.

Edelweiss Power Screener : Allows filtration of stocks on basis of certain pre-defined, but
useful parameters like Bargain Buys (stocks down 70% from their 3 year highs), Delisting
candidates, FII favorites, etc.

Moneycontrol Top Dividends : Though this would not qualify as a real screener, we still use
it to satisfy our fetish to search for good dividend stocks :-). It even provides a 5 year
dividend history of all stocks and allows segregation on basis of industry. One of our
favorites.

Magic Formula India : This site hasn’t been updated for last 2-3 months. Nevertheless, it
was a good initiative and provided a list of stocks which came up after using the Magic
Formula. Don’t know what is a Magic Formula? It actually uses just 2 parameters – Earnings
Yield (Inverse of P/E) and Return on Capital to arrive at a list of remarkably good stocks. For
a more detailed description, read this.

Edelweiss Customer Screener : Allows filtering of stocks on basis of a variety of

parameters. This has, by far the best user interface. No nonsense. Very neat and clean.

ICICI Predefined Search : Like Edelweiss’s power screener, it provides some interesting
criterias like Cheapest Stock of large companies, medium and large cap stocks with high
dividend yield but low PE ratios, poor man’s stocks, future stocks, etc.
FT.com : Though this is made for global markets, you can use it for Indian markets as well.
It offers some unique predefined criterias like Warren Buffet screen, Benjamin Graham
screen, Jason Zweig screen. Apart from these, it offers a comprehensive list of other
parameters to choose from. This is a gem of a screener.

NDTV Profit Screeners : It offers a plethora of interesting predefined screeners with

criterias like sector outperformance of underperformance on ROE, P/E, DY, sales, profits. It
also offers technical screeners for the traders (not us). :-)

Value Explorer : This is also a global stock screener with all necessary parameters. Though
a bit technical, it’s an interesting tool to have in one’s stock selection armour. Do read
Getting Started section to fully utilize this tool.  

Value Investing India : This tool provides predefind filters like Dogs of India (like Dogs of
Dow), Magic Formula, 52 week high/low and insider transactions.

Capital4 : It allows one to build screeners based on one’s own parameters or predefined
ones. Do check the predefined screeners. They sometimes throw up interesting results.

Edited (August 20, 2012): 2 More brilliant screeners: 

Zignals

Edited (January 13, 2015): 1 More brilliant screener:

Screener.in

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R Parikh
− ⚑
a year ago
Yes screener.in from Dalal Street is very good one; also there are many technical screeners even
for Indian markets. Can you send a follow-up updating the screener article. Also would anybody be
aware of a screener that offer "Price Relative Line or indicator" for any stock, i.e. the ratio of price
of a stock versus a broad based index over the time frame? Would appreciate if anybody could
revert, thanks - rakesh.b.parikh@gmail.com
0△ ▽ Reply
 Pankaj
− ⚑
4 years ago
Hi, good post. I suggest you also check the new Equitymaster Stock Screener and share your
views on the same as well... http://www.equitymaster.com/re...
0△ ▽ Reply

Stable Investor > Pankaj

− ⚑
4 years ago
@Pankaj

Thanks. We would check it soon.

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