There are over 7000+ companies listed on Indian stock market. How to find the company for investing based on certain criteria? It is impossible to read the financials for each company as it will take years. It also doesn’t make sense to read a balance sheet, profit and loss statement or cash flow statement for all listed companies when you can gee the same in few clicks. For a hassle-free stock picking, the stock screener can be a very useful tool to save your time.
What is a Stock Screener?
The stock screener is a website/software to shortlist few companies from the pool of all listed companies using different filters. It’s like running a database query based on the given criteria. These criteria could be anything like:
- Market capitalization is greater than 10000 crores.
- PE ratio > 10 and < 25
- Sales growth > 14%
- Debt to Equity ratio < 1
You can apply these filters in a stock screener to get the list of all the companies which satisfy the above-given criteria. The stock screener is very useful as it saves a lot of time and energy. You don’t have to go and search for an individual company to shortlist. Rather apply these filters and it will fetch you the list of few companies which satisfy the set criteria.
Types of Stock Screener
There are two types of stock screeners
Screener which filters stock based on the fundamental parameters like market capitalization, sales growth, operating profit, net profit, price to book value etc.
Same way screener shortlists stocks based on the technical parameters like PE ratio, debt to equity ratio, EPS, Graham, moving average, RSI etc are called technical screener.
Overall, the stock screener will help you to find good performing stocks according to your specifications with a single click.
Best stock screeners
Whenever anyone asks for “the best” of something the answerer has to guess what that person really wants. There are a lot of free stock screeners that all basically do the same thing. You can screen over standard financial and technical variables and get a list of stocks that meet the criteria. But they also offer specific options which will help you to filter out best stocks.
This is by far the best stock screener software and my favorite as well. It is very easy to use this tool. This tool basically emphasis on the fundamental parameters of the stock. Key features of this screener are as below.
- Simple query builder for stock filtration
- Create your own watchlist
- Create and save your query for future use
- Shows Pros and Cons of the script
- Peer comparison
- Option available for Export to excel
- Free E-mail notification on set criteria
You can search any script by key in the name of the script in the search bar at the top of the screen. You will get basic fundamental details of the stock like market cap, boom value, stock PE etc. You can also see the chart of the script and adjust it as per your requirement. Scroll down to see the peer comparison, financial results, balance sheet, cash flow, annual reports, recent announcements, CRISIL rating etc.
The trading view is basically the charting website. It’s the best website for viewing technical charts of the company. It is free and open source platform. You can also contribute to trading view software. It is freely available for everyone to use with limited features. For an upgrade, you’ll have to pay a nominal fee which I think is definitely worth it if you like tracking world markets in real-time.
Trading View offers 3 types of stock filtration.
Key in the required details and it will fetch you the list of the stocks based on your input. You can filter stocks based on the performance, valuation, margins, income statement and balance sheet. It also suggests buy or sell signals based on the fundamental and technical parameters.
Easy to use, open source and real-time price are the key features of the Trading View software.
Another stock screener with inbuilt query ready to use. Select criteria from the drop-down menu. You can also create your own query for stock filtration. Add as many criteria as you want to add in a single query.
- Pre-defined queries ready to use
- Add multiple criteria in a single query
- Easy to build query as you just have to select criteria from the drop-down list.
- Mobile app for Android and iOS available
There are many other stock screeners available on the internet. Some of them are as below.
Google Finance – Free
Yahoo Finance – Free
Investello – Paid service
Small case stock screener – Paid service
Money control is one of the leading websites for Indian stock market, but surprisingly it doesn’t provide stock screener facility till now.
Hope the above-mentioned stock screener will help you to make an informed decision on your investment. Do give your feedbacks and raise any query you have on this.