Graham Number Screen Flags Wide Margin of Safety in 8 Stocks

Eight companies listed on NSE are trading between 41.8% and 61.2% below their Graham Number values. The Graham Number screen flags a margin of safety in Indegene (NSE: INDGN), LIC Housing Finance (NSE: LICHSGFIN), Sammaan Capital (NSE: SAMMAANCAP), J & K Bank (NSE: J&KBANK), REC (NSE: RECLTD), PFC (NSE: PFC), Central Bank (NSE: CENTRALBK) and General Insurance (NSE: GICRE). It uses the square root of 22.5 times reported earnings per share times book value per share. FairStock's screen calculates the formula from fiscal-year reported data. A stock below its Graham Number is not automatically cheap. It means the market price sits below the formula's output. The arithmetic margin of safety is a filter, not a standalone buy signal. The list mixes lenders, power financiers, an insurer and a healthcare services firm. That matters. The Graham Number treats a rupee of book value the same way for every company. It does not adjust for credit quality, float risk or return on capital. Margin of safety across Graham Number stocks Indegene (NSE: INDGN) sits at the wide end of the screen at 61.2%. That is the largest margin of safety in this set. The company listed in 2024. Its book value got a lift from IPO proceeds. That can inflate Graham Number output until the cash is deployed or returned. [Indegene](/stock/INDGN) needs a return-on-capital check, not just a price-to-Graham ratio. General Insurance (NSE: GICRE) sits at the narrow end at 41.8%. The reinsurer trades below book, but the business is tied to underwriting cycles and catastrophe claims. A year of heavy claims can cut EPS quickly, which lowers the Graham Number itself. The margin of safety is therefore less fixed than it looks. The state-backed names, [REC](/stock/RECLTD), [PFC](/stock/PFC), [J & K Bank](/stock/J&KBANK), and [Central Bank](/stock/CENTRALBK), all carry dividend and credit-cycle risk. REC and PFC have dividend visibility because their loan books are tied to power sector capex. J & K Bank and Centr...