How the signals are set

What it checks

Where the Nifty 50 closed compared with its average of the last 200 trading sessions.

How the label is set

Positive when the close is more than 1% above that average; caution when it is more than 1% below; mixed when it is within 1%. The context rows (the 50-session average, India VIX against its own one-year median, how many stocks rose and fell, and FII net cash flow over the last 10 sessions) are shown for reference and never change the label.

Inputs

• Nifty 50 daily close
• India VIX daily close
• NSE advances and declines
• NSE FII/FPI daily cash flow

Applies to

All company types

Limits

Describes the broad market, not this company. It says where prices are, not where they are going.

Last changed

11 Nov 2026

What it checks

Where the Nifty 50's price-to-earnings ratio (NSE's own published figure) sits within its own month-end values over the last 5 years.

How the label is set

Informational only: it never has a colour. The text says whether today's figure is lower than its usual range (at or below the 25th percentile), within it, or higher than it (at or above the 75th percentile). Needs at least 36 monthly values.

Inputs

NSE index price-to-earnings ratio, daily

Applies to

All company types

Limits

Compares the index with itself and says nothing about what the market is worth. It is context for the market line and never counts in a tally.

Last changed

11 Nov 2026

What it checks

Whether the company's quarterly net profit (or loss) has been improving or worsening over the last four quarters.

How the label is set

A company in loss: positive when the loss narrowed in each of the last 3 quarter-to-quarter steps; caution when it widened in 2 or more of them; otherwise mixed. A profitable company: positive when profit is higher than the same quarter a year earlier in at least 3 of the last 4 quarters; caution when lower in at least 3; otherwise mixed. A move from loss to profit in the latest quarter is positive; from profit to loss is caution.

Inputs

Discrete quarterly net income from filed results

Applies to

All company types

Limits

Needs at least 4 quarters of results (8 for a profitable company, to compare each quarter with a year earlier). A merger or demerger inside the compared window makes the comparison unreliable, so no colour is given. Where the results state a profit before exceptional items, that figure is used and the evidence says so; a quarter that has been restated (a later filing changed its net profit or revenue for the same basis by more than 0.5% and ₹10 lakh) uses the latest filed figure and the evidence notes it; a quarter with a one-off item above the one-off threshold is shown as not comparable and its step is not counted.

Last changed

11 Nov 2026

What it checks

Whether the latest quarter's sales are higher than a year earlier, and whether that growth is faster or slower than the same measure a year before.

How the label is set

Positive when growth is above 0% and not slower than a year earlier; mixed when growth is above 0% but slower than a year earlier; caution when growth is at or below 0%. Banks and NBFCs use net interest income instead of sales.

Inputs

Quarterly revenue (net interest income for banks and NBFCs) from filed results

Applies to

Most companies, Banks, Non-bank lenders

Limits

Needs 9 quarters of results. Not shown for insurers. A merger or demerger inside the compared window makes the comparison unreliable, so no colour is given. A change of more than 1000% in either compared year comes from a base too small to compare and is shown as not comparable, without a colour.

Last changed

11 Nov 2026

What it checks

For companies other than lenders and insurers, the Altman Z-score, a published formula that combines balance-sheet and earnings ratios. For banks and NBFCs, the change in the gross NPA ratio over the last quarter.

How the label is set

Altman Z: positive above 2.99; mixed from 1.81 to 2.99; caution below 1.81. Gross NPA ratio: positive when it fell by 0.1 point or more; caution when it rose by 0.1 or more; otherwise mixed.

Inputs

• Latest balance sheet, trailing-12-month results and market value (Altman)
• Gross NPA % from the last two quarters (lenders)

Applies to

All company types

Limits

The Altman Z-score was designed for manufacturers and is shown only for general companies. Not shown for insurers. The gross NPA ratio is read from the filed fraction and shown in percent. NBFC results filed with the exchange carry no gross NPA ratio, so for NBFCs this is usually not covered. Banks use the gross NPA ratio. NBFCs: the results they file with the exchange carry no gross NPA, gross stage 3 or capital-adequacy ratio (none of 622 NBFCs states one in any recent quarter) and only about 28% state a provisions line, below the 70% needed for a comparable measure, so for NBFCs this stays not covered and no proxy is used. A Piotroski score is not computed. No Altman score is shown when the market value is more than 100 times total assets (mismatched inputs) or liabilities are under 1%

Last changed

11 Nov 2026

What it checks

How heavy the company's borrowings are against its earnings and its net worth.

How the label is set

Debt level first. Caution when net worth is negative. Positive when the company has no debt or debt to equity is below 0.1 (interest cover is then not read). Otherwise interest cover (operating profit before exceptional items over interest, last four quarters) decides: below 1.5, or an operating loss, is caution; above 5 with debt to equity below 1 is positive; otherwise mixed. Counts together with financial strength (one group; the worse label counts).

Inputs

• Latest balance sheet (net worth, total debt)
• Quarterly operating profit (EBIT) and interest expense

Applies to

Most companies

Limits

A balance sheet is filed half-yearly, so it can be up to eight months old. Interest cover uses EBIT (profit before tax plus finance costs, so it includes other income) with any filed exceptional item taken out. Not shown for banks, other lenders or insurers, whose borrowing is their business.

Last changed

11 Nov 2026

What it checks

Whether the business brought in cash from its operations in its latest annual statement, and how that compares with the profit it reported.

How the label is set

Positive when cash from operations is above zero and at least 50% of net profit; mixed when it is above zero but below 50% of net profit, or when the company made a loss but cash from operations is above zero; caution when cash from operations is negative.

Inputs

Latest annual cash-flow statement (cash from operations) and net profit of the same year

Applies to

Most companies

Limits

Cash flow is filed once a year, so the figure can be up to fourteen months old. Not shown for banks, other lenders or insurers. Timing of payments and one-off items can move a single year's cash flow a long way.

Last changed

11 Nov 2026

What it checks

Where today's price-to-earnings ratio (price-to-book for banks and NBFCs) sits within the company's own month-end values over the last 5 years.

How the label is set

Positive when it is at or below its 25th percentile (described as lower than its usual range); caution when at or above its 75th percentile (higher than its usual range); otherwise mixed. Needs at least 36 monthly values.

Inputs

Point-in-time valuation history (price-to-earnings, price-to-book)

Applies to

All company types

Limits

Compares the company with itself, not with other companies, and says nothing about what the shares are worth. Not shown for a company making a loss. A current figure more than 10 times above its 75th percentile, or below a tenth of its 25th, is out of line with its own history and is not compared.

Last changed

11 Nov 2026

What it checks

Where the share price closed compared with its 200-session average, with the 14-day relative strength index (RSI).

How the label is set

Positive when the close is more than 2% above the average and RSI is below 70; caution when more than 2% below; otherwise mixed. The text says when RSI is above 70 or below 30.

Inputs

Split- and bonus-adjusted daily closing prices

Applies to

All company types

Limits

Needs 200 trading sessions of prices and a price from the last 5 days. Describes past prices only. The text gives the date of the close it describes and, when the price history reaches back a year, how far the close is below the 52-week high (the highest adjusted close of the last 365 days). Two evidence rows add that distance and the latest delivery share of traded shares against its own 91-day average (needs 40 sessions); neither changes the label.

Last changed

11 Nov 2026

What it checks

The change in promoter holding over the last quarter and the share of promoter holding that is pledged. For companies with no promoter, the change in foreign (FII) plus domestic (DII) institutional holding.

How the label is set

Caution when promoter holding fell by 0.5 point or more, or the pledge is 20% or more, or the pledge rose by 1 point or more. Otherwise positive when promoter holding rose by 0.5 or more, or the pledge fell by 1 or more. Otherwise mixed (no notable change). With no promoter, the same bands apply to FII plus DII holding.

Inputs

• Shareholding pattern (last two quarters)
• Promoter pledge disclosure

Applies to

All company types

Limits

Shareholding is filed quarterly, so it can be up to three months old. A pledge is shown as a share of the promoters' own holding. A move smaller than the rule's own band is described as little changed; the exact figure is in the evidence.

Last changed

11 Nov 2026

What it checks

Whether promoters and directors, in the last 90 days, bought more of the company's shares in the open market than they sold, or the reverse.

How the label is set

Positive when net open-market purchases are more than 0.05% of the shares outstanding; caution when net open-market sales are more than 0.05%; otherwise the signal is not shown. Allotments, ESOP exercises, gifts, pledges and off-market transfers are not counted, and the evidence says how many were left out. Bulk and block deals of the last 30 days appear as evidence rows only, never as a label. Counts together with who owns the company (one group).

Inputs

• Company-filed insider-trade disclosures (Form C) that state the trade was in the open market
• Bulk and block deals
• Shares outstanding

Applies to

All company types

Limits

Only trades whose Form C states an open-market mode are counted. The depository feed, which is the fuller record, does not state the mode, so its trades are shown as not counted. Form C filings were first collected on 30 Oct 2026, so the last 90 days fill in over time and most companies show nothing yet.

Last changed

11 Nov 2026

What it checks

Where the company's net profit margin (trailing 12 months) ranks among similar companies.

How the label is set

Similar companies are the first of SEBI basic industry, SEBI industry and sector that has at least 8 listed members. Positive when the margin is in the top third of the group; caution when in the bottom third; otherwise mixed. The text names the group and its size and states the rank, not quality.

Inputs

• Trailing-12-month net margin
• SEBI industry classification

Applies to

Most companies

Limits

Shown only for general companies in a group of at least 8. Margins differ by business model even inside one industry. A company whose profit or loss over 12 months is larger than its sales is not compared, because sales are not its main income.

Last changed

11 Nov 2026

What it checks

Whether the share of sales kept as operating profit over the last four quarters is higher or lower than over the four quarters before.

How the label is set

Positive when the operating margin rose by more than 1 percentage point; caution when it fell by more than 1 percentage point; otherwise mixed. Counts in its own tally group: the direction of the company's margin is a different question from its level against similar companies.

Inputs

Quarterly operating profit before other income and quarterly sales from filed results

Applies to

Most companies

Limits

Needs eight consecutive quarters. Operating profit here is sales less operating expenses, before other income, depreciation and interest. A merger or demerger inside the window makes the comparison unreliable, so no colour is given. Not shown for banks, other lenders or insurers.

Last changed

11 Nov 2026

What management says: which sources are shown

What it checks

The latest guidance the company stated in a filing in the last 180 days.

How the label is set

Positive when management raised a growth figure it had given before; caution when it lowered one; otherwise informational. The text always attributes the statement to management and says it is not a promise.

Inputs

Guard-checked guidance extracted from company filings, with a source quote

Applies to

All company types

Limits

Only filings we have read in depth. Management's words are shown as stated, not checked for accuracy. A numeric figure is used only when its quote looks forward (guidance, expect, outlook, a current or future period) and is not a past-result statement or an analyst's question. When an earlier guidance for the same measure has a reported outcome, one sentence and two evidence rows show what was guided and what was reported, with dates; arithmetic only.

Last changed

11 Nov 2026

What it checks

The latest credit rating action disclosed in a filing in the last 180 days.

How the label is set

Positive for an upgrade or a raised outlook; caution for a downgrade or a lowered outlook; otherwise informational (for example reaffirmed or assigned).

Inputs

Guard-checked rating disclosures extracted from company filings

Applies to

All company types

Limits

Only filings we have read in depth; the agency's own report is the full source. ESG and sustainability scores, and any grade that is only a number, are not credit ratings and are skipped.

Last changed

11 Nov 2026

What it checks

Appointments and departures of senior management disclosed in filings in the last 180 days.

How the label is set

Caution when a filing reports the CEO, managing director, CFO, company secretary or auditor ceasing to serve (the role is read from the extracted role field); other management changes are informational.

Inputs

Appointments and cessations read from exchange filings, with a source quote

Applies to

All company types

Limits

A cessation can be a planned retirement or end of term. The date is labelled 'effective date stated' only when the filing states one; otherwise the filing date is shown under its own label.

Last changed

11 Nov 2026

What it checks

The latest order or contract the company announced in a filing in the last 180 days.

How the label is set

Informational only.

Inputs

Guard-checked order disclosures extracted from company filings

Applies to

All company types

Limits

Only filings we have read in depth. An order value is as disclosed; it is not revenue. The value is recomputed from the filing's own words and shown only when it agrees within 1%; otherwise the order is shown without a value. Filings about an appeal, tribunal, court or penalty are skipped.

Last changed

11 Nov 2026

What it checks

Whether an audit or review report, or a filing, in the last 180 days records a qualified or adverse opinion, a disclaimer of opinion, an emphasis of matter, a material uncertainty about going concern, or the auditor's resignation.

How the label is set

Caution for any of these. A clean report is never shown.

Inputs

Guard-checked auditor remarks extracted from filings, with a verbatim quote and page

Applies to

All company types

Limits

Only filings we have read in depth, and only while the filing-extraction switch is on. The auditor's own report is the full source.

Last changed

11 Nov 2026

What it checks

Whether we have read filings for the company in the last 180 days.

How the label is set

Informational when there are no recent items; not covered when we have not read this company's filings.

Inputs

Filing extraction coverage

Applies to

All company types

Limits

Shown only in place of the items above.

Last changed

11 Nov 2026

What it checks

Up to 2 recent stories (last 14 days) about the company from the outlets we follow, one per story.

How the label is set

Positive when the story tends to help the company; caution when it tends to hurt it; mixed when it cuts both ways or is unclear. A short reason, the outlet, the date and a link are always shown.

Inputs

Stored news items matched to the company and scored by an automated reader

Applies to

All company types

Limits

The outlets we follow, not all news. The effect is an automated reading of the headline and summary, not of the full article. A second sentence may give the general industry mechanism for the story's factor (a textbook 'tends to' statement, not a company-reviewed exposure); one general policy or macro story may appear, marked general. A headline that contains a word this product never uses is not dropped: it is shown as the publisher's own words inside quotation marks, with DalalOS's plain reading written without that word.

Last changed

11 Nov 2026

What it checks

How many analysts rate the stock buy, hold or sell, as published by Yahoo Finance.

How the label is set

Informational only. Counts are shown as reported by a third party, never as a price goal or a single verdict. Fewer than 5 analysts: no breakdown is shown.

Inputs

Third-party analyst rating counts

Applies to

All company types

Limits

Third-party figures, which can lag. Not reviewed by DalalOS. The total shown is the sum of the buy, hold and sell counts. When the source's own total differs from that sum by more than 1, the row is held back as unverified. A large jump since the previous fetch is also held back until the next fetch agrees.

Last changed

11 Nov 2026