Piotroski 8/9: 8 NSE Blue Chips With Low P/E

Eight NSE companies now score 8/9 on the Piotroski F-Score. [HDFC Bank](/stock/HDFCBANK) (NSE: HDFCBANK), [State Bank of India](/stock/SBIN) (NSE: SBIN), [TCS](/stock/TCS) (NSE: TCS), [Infosys](/stock/INFY) (NSE: INFY), [Kotak Mahindra Bank](/stock/KOTAKBANK) (NSE: KOTAKBANK), [Axis Bank](/stock/AXISBANK) (NSE: AXISBANK), [ITC](/stock/ITC) (NSE: ITC) and [NTPC](/stock/NTPC) (NSE: NTPC) all pass the screen. That is not a typo. The F-Score checks nine signals across profitability, gearing, liquidity, operating efficiency and dilution. An 8/9 print means eight of nine balance-sheet and income-statement flags show pass. The group pairs the 8/9 Piotroski F-Score with P/E multiples below the Nifty 50 average in parts of the group. TCS and ITC stand out on profitability. TCS posts ROE of 47.7% and ITC 49.8%. NTPC carries the lowest P/E in the group at 10.39. The mix is uneven: quality scores are high across the board, but valuations range from value to premium. FairStock data show all eight names above a FairStock Score of 70. TCS and ITC score above 85. That matters because high F-Score plus high FairStock Score reduces the odds of a value trap. It doesn't remove sector risk. Piotroski 8/9 Screen Details Piotroski F-Score is binary. It rewards companies for improving return on assets, operating cash flow above net income, lower gearing, higher current ratio, no dilution, better gross margin and stronger asset turnover. An 8/9 print requires almost all of those to work. For banks, the signal is asset quality repair. SBI and Axis pass on operating cash flow and gearing. HDFC Bank and Kotak Mahindra Bank score on liquidity and dilution control. For TCS and Infosys, the screen tracks cash conversion. Net income becomes operating cash flow. TCS's 47.7% ROE and Infosys's balance-sheet discipline show up in the F-Score. NTPC passes despite heavy capital expenditure because its operating cash flow and gearing metrics remain above the model's thresholds. Valuation dispersion...