Frequently asked questions
What is MarketFriction?
An independent research site covering every company listed on the NSE and BSE: prices, results, ratios, shareholding, corporate actions, deals, IPOs, insider disclosures and red flags, all calculated from exchange data and company filings. See about.
Is MarketFriction free?
Yes. Every company page, the screener, compare, portfolio, backtests, the IPO pages and the change feed are free to use without an account.
Where does the data come from?
Prices come from the NSE and BSE end-of-day files. Financial statements come from company filings, and new quarterly results are read from the official NSE XBRL filings the evening they are published. The methodology page lists every source and rule.
How often is the site updated?
Every evening after the market closes. Quarterly results filed with the NSE reach the company page the same evening.
Are prices adjusted for splits and bonuses?
Yes. Charts and returns use split- and bonus-adjusted prices, so a bonus issue or a stock split does not show as a fall.
How is P/E calculated?
P/E is market capitalisation divided by net profit over the last four reported quarters. It is left blank when that profit is negative, because a negative P/E is not meaningful.
What does a red flag mean?
A red flag means a number in the company's statements or filings deserves an explanation, for example profit that is not turning into cash, or an auditor who resigned. It is not an accusation, and many healthy companies carry a flag for ordinary reasons. The methodology page lists every check.
What is the F-score?
A score from 0 to 8 built from eight of Joseph Piotroski's financial-strength tests: profitability, cash flow, leverage, dilution, margins and efficiency. Higher is healthier. It is shown only when at least six of the tests have data.
How do I screen for stocks?
Open the screener and type a condition such as roce > 20 AND de < 0.5 AND mcap > 1000. You can combine any of the 40-plus fields with AND, OR, NOT, brackets and arithmetic, then save the screen or get Telegram alerts when new companies match.
Does the screen backtest avoid look-ahead bias?
Yes. Each July the screen only sees annual results that were already public that day (years that ended at least 60 days earlier), priced at that day's close. Returns are price only and before costs.
How are IPO listing gains calculated?
The listing-day gain is the first day's closing price against the issue price, both from the exchange's own data. Later returns are measured the same way and adjusted for any later splits or bonuses. See the IPO study.
What does "on NSE surveillance" mean?
The NSE places some stocks under measures such as ASM (additional surveillance) or GSM (graded surveillance) when their price or volume moves unusually. Trading in them can need higher margins or be restricted. The company page shows the current measure.
Why does a company page show no recent results?
Some companies file late, trade rarely or have been suspended. The page shows the latest results we have and when they were filed; a "not trading" label appears when a stock has had no trades for 30 days.
Can I get alerts?
Yes. The Telegram alerts bot sends alerts for the companies you watch (such as new results) and for your saved screens when new companies match. Start it from the screener page.
Is this investment advice?
No. MarketFriction publishes data and calculations only and is not registered with SEBI as a research analyst or investment adviser. See the disclaimer.
How do I report a wrong number?
Email [email protected] with the company, the number and where you saw it.