9 Free Indian Stock Screeners
In the introductory article about Mutual Funds, we noticed that there are 5000+ listed companies in India and it is really difficult to analyze each company for investment. This was the reason why Mutual Funds were instituted. They have people who can devote all their time towards researching stocks (equity Mutual Funds) and you can outsource this tiresome job to them. However, investing in Mutual Funds itself has some disadvantages and you may wish to invest in fundamentally good companies directly. Oh, but that does not solve our primary problem, does it?
You still have to find good investment worthy stocks without burning yourself out. Your problem is somewhat simplified if you limit yourself only to large-cap stocks but if you want to fish in the mid-cap and small-cap waters, you will definitely need a tool to help you with your search.
This is where Stock Screeners come in. They help you shortlist stocks for investment very quickly based on pre-determined or custom criteria. In this article, I have prepared a list of some free Stock screeners for the Indian Stock markets which will come handy.
The shortlisting can be done on 30+ parameters with 3 of them being technical parameters. The shortlisting categories are broadly divided into General, Operational, Price, Shareholding, Size, Statistical, Technical and Valuation.
Capital4 has 7 excellent inbuilt screeners as well as a custom screener. It can be built using 60+ parameters grouped into Industry, Volume, Performance, Shareholding, Valuation multiples, Profitability, Growth, Efficiency,Leverage/ Risk, Dividends, Mutual Fund Activity e.t.c.
ValuePickr features some popular US market screeners adapted to the Indian market. In all, there are over 60+ inbuilt screeners which means using more than 60 sets of established screening criteria. However, what they lack is a custom screener that would allow users to screen stocks according to their own criteria. You will have to register with them (free) to use their screeners.
4. ICICI Direct
5. BSE Screener
Edelweiss has 10 ready-to-use/ inbuilt screeners which they call Power Screeners. They also have a custom Stock Screener which you can use. To use their screeners, you will have to register with them for free.
The Best Screeners
I found Capital4, AskKuber and ValuePickr screeners to be the best. If you are looking for custom screeners both Capital4 and AskKuber are pretty good. For ready-to-use screeners, try ValuePickr. Even though you have to register, it’s worth it. However, all this is only my opinion and you may like the other screeners too, so try all of them. If you know of a screener that I missed, please leave a comment.
Caution: I have assumed that the screeners are giving correct and updated data. It is best that you crosscheck the parameters with mainstream financial sites like moneycontrol.com.