Graham Number Screen Flags Deep Value in Energy, Autos

Graham Number screen flags deep value in energy, autos and financials as of November 9, 2026. FairStock's arithmetic filter returned eight NSE/BSE names trading between 55% and 72% below their Graham Number fair value. That sort of gap does not arrive quietly. It suggests either the market has overcorrected, or the formula is pointing at companies with real balance-sheet or earnings risk. For readers who have not used the Graham Number, think of it as a sticker price for a stock. Benjamin Graham's formula multiplies earnings per share by book value per share, applies a 22.5 multiplier, and takes the square root. The output is a rough ceiling at which a defensive investor should stop buying. When the market price sits at half that ceiling, the arithmetic is screaming margin of safety. Whether the arithmetic is right is a different question. What the Graham Number screen is showing The screen's standout feature is the size of the discounts. Eight names in energy, autos and financials are trading 55% to 72% below their Graham Number fair value. That is not a subtle undervaluation. If you use a simple analogy, it is like seeing a Rs 250 asset quoted at Rs 100 and asking what the seller knows. [ONGC](/stock/ONGC) (NSE: ONGC), [IOC](/stock/IOC) (NSE: IOC) and [PFC](/stock/PFC) (NSE: PFC) are the most prominent large caps on the list. They carry the combination Graham liked: low P/E multiples, tangible book value and a wide gap between price and intrinsic arithmetic. [Tata Motors](/stock/TATAMOTORS) (NSE: TATAMOTORS) is the only auto representative, and its presence reminds us that cyclical earnings can distort the formula in both directions. [GE Shipping](/stock/GESHIP) (NSE: GESHIP), [LIC Housing Finance](/stock/LICHSGFIN) (NSE: LICHSGFIN), [Bank of India](/stock/BANKINDIA) (NSE: BANKINDIA) and [Central Bank of India](/stock/CENTRALBK) (NSE: CENTRALBK) complete the group. Deep value in energy and public sector financials The energy names are the easiest to understa...