Graham Number Screen Flags Indegene, LIC Housing

Graham Number Screen Uncovers Deep Discounts Across Indian Financials The Graham Number screen is flashing hard across Indian financials right now. [Indegene](/stock/INDGN) (NSE: INDGN) sits at a 61.2% discount to its Graham Number — the widest gap in the current screen. [LIC Housing Finance](/stock/LICHSGFIN) (NSE: LICHSGFIN) follows at 55.8%. These aren't small rounding errors. A 60% discount to a conservative valuation benchmark is the market saying either the earnings are suspect, the growth is dead, or the stock is genuinely cheap. Figuring out which one is the job. For readers unfamiliar with the metric: the Graham Number is a ceiling price derived from a stock's EPS and book value per share, using the formula √(22.5 × EPS × BVPS). Benjamin Graham designed it as a sanity check — a back-of-envelope test to identify stocks that aren't obviously overpriced. It's not a price target. It doesn't account for growth, management quality, or sector cycles. Think of it as a speed limit sign, not a GPS route. When a stock trades at half the Graham Number, you're not automatically buying; you're being told to look harder. What makes this screen notable isn't any single name. It's the breadth. Five stocks across financials, insurance, and specialty lending are all flagging simultaneously. That's not coincidence — it reflects valuation compression that's been running through rate-sensitive and capital-heavy sectors for the better part of 2024 and into 2025. Sector Breakdown: Who's on the Screen and Why It Matters [J&K Bank](/stock/J&KBANK) (NSE: J&KBANK) and [General Insurance Corporation of India](/stock/GICRE) (NSE: GICRE) both appear on the screen, with GIC Re carrying the highest FairStock Score among the group at 86 out of 100. A FairStock Score of 86 means the platform's multi-factor model — which weighs earnings quality, valuation, momentum, and financial health — sees GIC Re as the strongest risk-adjusted candidate in this cohort. That's worth noting. High margi...