High Piotroski Scores, Low P/E: IT, Banks, ITC

High Piotroski scores meet low P/E ratios in this screen. Eight NSE large caps post a Piotroski F-Score of 8/9: HDFC Bank [NSE: HDFCBANK](/stock/HDFCBANK), SBI [NSE: SBIN](/stock/SBIN), TCS [NSE: TCS](/stock/TCS), Infosys [NSE: INFY](/stock/INFY), Kotak Mahindra Bank [NSE: KOTAKBANK](/stock/KOTAKBANK), Axis Bank [NSE: AXISBANK](/stock/AXISBANK), ITC [NSE: ITC](/stock/ITC), and NTPC [NSE: NTPC](/stock/NTPC). The group's trailing P/E runs from 10.39 on NTPC to 19.16 on Kotak Mahindra Bank. That combination is uncommon. F-Score checks nine accounting signals across profitability and balance sheet quality. An 8/9 says financials are improving, not just steady. Add low P/E to that, and you get a quality-at-price filter that rarely stays quiet for long. TCS and ITC lead the group on ROE and ROCE. ITC's ROE has held above 25% for years; TCS runs near 45% with high cash conversion. Most of these names carry FairStock Scores above 70, so the platform composite aligns with the accounting signal. NTPC's 10.39x multiple is the value anchor; Kotak's 19.16x is the premium test. Sector read: banks cheap, IT mispriced Banks dominate the list. HDFC Bank, SBI, Kotak Mahindra Bank, and Axis Bank all score 8/9. The F-Score rewards lower debt and better asset turnover; it also catches margin improvement. Indian banks have shown exactly that since the 2023 credit cycle, as credit costs normalised and net interest margins held. HDFC Bank's post-merger book has pressured the stock, but the F-Score says its financials are not deteriorating. SBI sits near the bottom of the group's P/E band. Kotak at 19.16x is the richest bank on the list, and the score does not excuse that premium forever. IT is the actual anomaly. TCS and Infosys below 19x with an 8/9 F-Score is rare. These names traded at 22-25x forward through most of 2020-2024. The current discount reflects weak US enterprise budgets and AI spending shifts. Prices already embed the downturn. If IT budgets stabilise, the re-rating can ...