The “Piotroski score” is a discrete score ranging between ‘zero’ and ‘nine’ that reflects nine different criterias used to determine the strength of the financial position of the firm. With nine being the best and zero being the worst, the Piotroski score is used to determine the best value stocks.
Listed below are three stocks portraying high piotroski scores that one should add to their watchlist with a potential upside of up to 33 percent:
Landmark Cars Limited
With a market capitalization of Rs 3,052.52 crores, the stocks of Landmark Cars Limited are currently trading at Rs 739.15, slipping approximately 1.60 percent as compared to its previous closing levels of Rs 750.75 apiece. The company has a piotroski score of 7.
During the recent financial quarters, the company’s prime business indicators, viz, operating revenues as well as bottom-line numbers increased with the former rising from Rs 771 crores during Q2FY24 to Rs 959 crores during Q3FY24 and the latter, during the same period, stayed uniform at levels of around Rs 19 crores.
ICICI Direct gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 920 indicating a potential upside of 25 percent compared to the prevailing share price of the company.
CIE Automotive India Limited
With a market capitalization of Rs 16,995.43 crores, the stocks of CIE Automotive India Limited are currently trading at Rs 448, slipping approximately 1.20 percent as compared to its previous closing levels of Rs 453.15 apiece. The company has a piotroski score of 8.
During the recent financial quarters, the company’s prime business indicators, viz, operating revenues as well as bottom-line numbers decreased with the former slipping marginally from Rs 2,279 crores during Q2FY24 to Rs 2,240 crores during Q3FY24 and the latter, during the same period, slipped from Rs 375 crores to Rs 169 crores.
Having a positive outlook, Axis Direct gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 565 indicating a potential upside of 26 percent compared to the prevailing share price of the company.
Jyothy Labs Limited
With a market capitalization of Rs 16,247.15 crores, the stocks of Jyothy Labs Limited are currently trading at Rs 442.45, gaining approximately 2.20 percent as compared to its previous closing levels of Rs 433.20 apiece. The company has a piotroski score of 9.
During the recent financial quarters, the company’s prime business indicators, viz, operating revenues as well as bottom-line numbers decreased with the former slipping from Rs 732 crores during Q2FY24 to Rs 678 crores during Q3FY24 and the latter, during the same period, slipped from Rs 104 crores to Rs 91 crores.
Having a positive outlook, Sharekhan gave a ‘Buy’ recommendation on the company’s stock with a target price of Rs 590 indicating a potential upside of 33 percent compared to the prevailing share price of the company.
Written by Amit Madnani
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