Want to start investing in stock? Looking for the best stock options that will give you the best returns? 

Did you know that for the financial year 2022, more than 7462 companies were listed across NSE (National Stock Exchange) and BSE (Bombay Stock Exchange)? 

So, if you plan to investigate these companies, it will take you a long time. That is why stock screeners were created. You can reduce the hassle and filter out stocks based on their growth rate. 

But before we jump into our recommendations of the five best screeners for stocks in India, let's find out what stock screeners are.

What are Stock Screeners?

Stock screeners are tools that shortlist stocks from companies using specific filters. Based on the filters chosen by the investor, the platform offers stock options. Some tangible parameters include growth rate, dividend ratio, average volume, average return on investment, market capitalization, debt to equity ratio, the average price to earnings ratio (P/E), volatility, and more. 

Let's say you are looking for stock in companies that have: 

• Market capital of more than 10,000 Crore
• Price to earnings is from 10 to 25
• The average return on equity has been 20% over the last three years
• The debt to equity ratio is <1.

With a stock screener, you can get a detailed list of companies that fulfill the criteria chosen.

How Do Stock Screeners Work?

Stock screeners have hundreds of companies' databases in one place. This makes it easier to use, especially when filtering through the common indicators present.

Traders or stock investors use the best stock screener in India; then, they choose variables that have defined values. The platform searches through their databases and lists those company stocks that fulfill the criteria chosen.

What to look for when choosing the best screener for stocks in India?

There are hundreds of stock screeners to choose from. So, when choosing the best screener for stocks India some factors you can look at are:

• Operating Platform: Is it an application or a platform, as web-based stock screeners mean that you can log in from mobile, desktop, or tablets?

• Budget Options: If you are a beginner, then you can opt for free versions or pay-as-you-go subscription plans. But, if you are a trader or investor, you may need a platform that offers a larger budget range.

• Technical Experts: Check some videos or the platforms' how-to sections. Some stock screeners may require a deeper understanding of statistics and programming skills, while some can be completely automated.

• Metrics Covered: Check the platform to see how in-depth the metrics are covered. Some have predefined metrics like optimal P/E range, set market cap, and others to help traders. At the same time, others may offer simple information for beginners.

• Updating Schedules: Make sure that the stock screener you choose has relevant data. Otherwise, you may be missing out on the latest market details.

Now that you know what to look for in stock screeners, here are our top 5 recommendations for the best stock screener India:

Best Stock Screener India in 2024

1. TickerTape

The TickerTape platform is a     user-friendly stock screener that helps both beginners and professional traders in stock screening. 

Other than stocks, TickerTape offers Exchange-Traded Funds (ETFs), indices, and mutual funds as well. The platform has multiple filters available such as market capitalization, close pricing, and others. You can also customize these filters based on the results.

Main Features:

• Simple and easy-to-use platform
• Over 120+ filters
• Forecasting is done by industry experts
• Suitability of investment evaluation options
• Complete customization
• The easy data download process.

Pricing:

TickerTape pricing starts from INR 118/month. The platform also has a 14-day free trial option

2. Screener.in

Considered to be one of the best screeners for stocks in India, users can not only filter out stocks but can create watch lists and analyze them with the query builder.

With the basic filters available, you can compare previous quarters of companies within the same industry.

Main Features:

• Options to create custom ratios, and stock screens
• Easy screen alert options
• Detailed peer-to-peer comparison for stocks
• Easy download of credit ratings
• Customizable export of filters to excel
• 24*7 priority support.

Pricing: 

Free plan available for beginners. Premium plans start from INR 4999/year.

3. MoneyControl

The MoneyControl stock screener platform offers the latest updates on both international and Indian stocks. Platform users can monitor their investments and get expert opinions on the stock rates. The mobile app also has voice-based search options. The platform also has a forum message board that provides participants with discussions on their interests. Also, you can use their smart calendar to mark all economic events.

Main Features:

• Latest updates in market data, prices, and charts
• In-house research options
• Analysis of the market by experts
• Completely ad-free
• Personalized watchlist options
• Smart-calendar and mobile-app features.

Pricing: 

The basic plan starts from INR 129/month with the availability of monthly plans as well.

4. Investing.com

The investing.com platform is one that both beginners and experienced stock investors can use. Indian investors can perform both fundamental and technical analyses for all companies listed on NSE and BSE. There are multiple filters such as volume, ratios, pricing, and dividends, in addition to the latest news and information available.

Main Features:

• Multiple filtration options are available
• Live market data
• Easy download of market analyses
• Watchlist options
• Easy methods to create alerts
• Personalized screen options.

Pricing:

Investing.com is Free.

5. Edelweiss

Edelweiss.com is one of the most popular and known brokerage houses in India. The easily accessible mobile app offers support to both novices and seasoned traders to make decisions on the move.

The platform provides all the latest details and updates about stocks, previous weeks/months' highs and lows, sector performances, and more.

Main Features: 

• Focused on fundamental structure analysis
• Real-time stock market data
• 20+ customized criteria
• Live share market information
• Customized market watch options
• Easy alert and notification creation.

Pricing:

Edelweiss is available for Free.

Choosing the Best Screener For Stocks India

If you are looking for a few more options, here is a list of a few useful stock screeners that you can look at:

• Google Finance 
• Equity Master 
• Investello 
• Capital Cube 
• MoneyWorks4Me.

When planning to invest in stocks, make sure that you understand the market and its rise and fall before investing. You could also ask people you know in stock trading for their views. But, to constantly analyze, track and check your investments, use a stock screener that suits your needs.

Stock Screeners FAQ Section

1. What do Stock Screeners do? 

A stock screener helps sort and display stocks that fall under the users' criteria from the thousands available. They also display the latest stock market data, information, and trends to help you make a decision.

2. Do stock screeners work?

If you know how to use them and understand the terminologies involved, then stock screeners can be a major help. They offer quantitative and unbiased opinions on a stock based on the users' requirements. But, it does take some learning and understanding to add the right variables for filtering.

3. What can stock screeners do?

Stock screeners help investors make informed decisions based on market studies and the technical analysis of previous data. Some common indicators include MACD, Relative Strength Index, on-balance volume, and others. The fundamental category includes Price to Sales Ratio (P/E), Return-On-Equity (ROE), Free Cash Flow (FCF), and others.

4. Is it good to use stock screeners?

Considering that India has over 7000 companies listed on NSE and BSE, stock screeners are a great way to filter out your choices. But, you need to know which ones work best.

5. Where can I buy a stock screener?

You do not need to buy one; some of the best stock screener India is available for free. You just need to sign in and then can use the app or the website. Some screeners do have paid plans that offer better support.

6. What should I look at when scanning stocks?

When choosing stocks, there are some filters you need to look at. These include PE ratio, debt-equity ratio, market capitalization, return on equity, and technical factors such as high and lows, volume, and moving averages.