Stock Accepted or Rejected

1 Asian Paints Accepted

2 Axis Bank Rejected
3 Bajaj Auto Accepted
4 Bajaj Finance Rejected
5 Bharti Airtel Rejected
6 Coal India Rejected
7 HCL Technologies Rejected
8 HDFC Bank Rejected
9 Hero MotoCorp Accepted
10 HUL Accepted
11 HDFC Rejected
12 ICICI Bank Rejected
13 IndusInd Bank Rejected
14 Infosys Rejected
15 ITC Accepted
16 Kotak Mahindra Bank Rejected
17 L&T Accepted
18 M&M Accepted
19 Maruti Suzuki Accepted
20 NTPC Accepted
21 ONGC Rejected
22 Power Grid Accepted
23 Reliance Industries Rejected
24 SBI Rejected
25 Sun Pharma Rejected
26 TCS Rejected
27 Tata Motors Accepted
28 Tata Steel Rejected
29 Vedanta Rejected
30 Yes Bank Rejected

19/30 = 63% rejected

Reason
Study in detail
Financial statements too complex
Study in detail
Financial statements too complex
Technology (4G/5G) tied to the business is difficult to predict.
Corporate structure looks complicated
We just can’t wrap our heads around their business model (even though other people may be able to)
Financial statements too complex
Study in detail
Study in detail
Financial statements too complex
Financial statements too complex
Financial statements too complex
We just can’t wrap our heads around their business model (even though other people may be able to)
Study in detail
Financial statements too complex
Study in detail
Study in detail
Study in detail
Study in detail
Products and business model are highly technical
Study in detail
Corporate structure looks complicated
Financial statements too complex
Products and business model are highly technical
We just can’t wrap our heads around their business model (even though other people may be able to)
Study in detail
Industry suffers from brutal competition (China)
Corporate structure looks complicated
Financial statements too complex

For more detailed reasoning, visit: Value Investors Only.com

 Stock Accepted or Rejected
1 3M India Ltd
2 Aarti Industries Ltd.
3 ABB India Ltd
4 Abbott India Ltd
5 ACC Ltd
6 Adani Green Energy Ltd
7 Adani Ports and Special Economic Zone
8 Adani Power Ltd
9 Adani Transmission Ltd
10 Aditya Birla Capital Ltd
11 Aditya Birla Fashion and Retail Ltd
12 Advanced Enzyme Technologies Ltd
13 Aegis Logistics Ltd
14 AIA Engineering Ltd
15 Ajanta Pharma Ltd
16 Akzo Nobel India Ltd
17 Alembic Pharmaceuticals Ltd
18 Alkem Laboratories Ltd
19 Allahabad Bank
20 AllCargo Logistics Ltd
21 Amara Raja Batteries Ltd
22 Ambuja Cements Ltd
23 Andhra Bank
24 Apar Industries Ltd
25 APL Apollo Tubes Ltd
26 Apollo Hospitals Enterprise Ltd
27 Apollo Tyres Ltd
28 Asahi India Glass Ltd
29 Ashok Leyland Ltd
30 Ashoka Buildcon Ltd
31 Asian Paints Ltd
32 Aster DM Healthcare Ltd
33 Astral Polytechnik Ltd
34 AstraZeneca Pharm India
35 Atul Ltd.
36 AU Small Finance Bank Ltd
37 Aurobindo Pharma Ltd
38 Avanti Feeds Ltd
39 Avenue Supermarts Ltd
40 Axis Bank Ltd
41 Bajaj Auto Ltd
42 Bajaj Corp Ltd
43 Bajaj Electricals Ltd
44 Bajaj Finance Ltd
45 Bajaj Finserv Ltd
46 Bajaj Holdings and Investment Ltd
47 Balkrishna Industries Ltd
48 Balmer Lawrie & Co. Ltd.
49 Bandhan Bank Ltd
50 Bank of Baroda
51 Bank of India
52 Bank Of Maharashtra
53 BASF India Limited
54 Bata India Ltimited
55 Bayer CropScience Ltd/India
56 BEML Ltd
57 Berger Paints India Ltd
58 Bharat Dynamics Ltd
59 Bharat Electronics Ltd
60 Bharat Financial Inclusion Ltd
61 Bharat Forge Ltd
62 Bharat Heavy Electricals Ltd
63 Bharat Petroleum Corp Ltd
64 Bharti Airtel Ltd
65 Bharti Infratel Ltd.
66 Biocon Ltd
67 Birla Corp Ltd
68 Bliss Gvs Pharma Ltd
69 Blue Dart Express Ltd
70 Blue Star Ltd
71 Bombay Burmah Trading Corp Ltd.
72 Bombay Dyeing & Manufacturing Co Ltd
73 Bosch Ltd
74 Britannia Industries Ltd.
75 Cadila Healthcare Ltd
76 Can Fin Homes Ltd
77 Canara Bank
78 Caplin Point Laboratories Ltd
79 Carborundum Universal Ltd
 80 CARE Ratings Ltd
81 Castrol India Ltd
82 CCL Products (India) Ltd.
83 CEAT Ltd
84 Central Bank of India
85 Centrum Capital Ltd
86 Century Plyboards India Ltd
87 Century Textile & Industries Ltd
88 Cera Sanitaryware Ltd
89 CG Power and Industrial Solutions Ltd
90 Chambal Fertilizers & Chemicals Ltd
91 Chennai Petroleum Corp Ltd
92 Cholamandalam Investment & Finance Co. Ltd.
93 Cipla Ltd/India
94 City Union Bank Ltd.
95 Coal India Ltd
96 Cochin Shipyard Ltd
97 Coffee Day Enterprises Ltd
98 Colgate-Palmolive India Ltd
99 Container Corp Of India
100 Coromandel International Ltd
101 Corp Bank
102 CRISIL Ltd
103 Crompton Greaves Consumer Electricals Ltd
104 Cummins India Ltd
105 Cyient Ltd
106 Dabur India Ltd
107 DB Corp Ltd
108 DCB Bank Ltd
109 DCM Shriram Ltd
110 Deepak Fertilisers & Petrochemicals Corp. Ltd.
111 Deepak Nitrite Limited
112 Delta Corp. Ltd.
113 Dena Bank
114 Dewan Housing Finance Corp Ltd
115 Dhanuka Agritech Ltd
116 Dilip Buildcon Ltd
117 Dish TV India Ltd
118 Dishman Carbogen Amics Ltd
119 Divi's Laboratories Ltd
120 DLF Ltd
121 Dr Reddy's Laboratories Ltd
122 Dr. Lal PathLabs Ltd
123 eClerx Services Ltd
124 Edelweiss Financial Services Ltd
125 Eicher Motors Ltd
126 EID Parry India Ltd
127 EIH Ltd
128 Elgi Equipments Ltd.
129 Emami Ltd
130 Endurance Technologies Ltd
131 Engineers India Ltd
132 Equitas Holdings Ltd
133 Eris Lifesciences Ltd
134 Escorts Ltd
135 Essel Propack Ltd.
136 Eveready Industries India Ltd
137 Exide Industries Ltd
138 FDC Ltd
139 Federal Bank Ltd
140 Finolex Cables Ltd
141 Finolex Industries Ltd
142 Firstsource Solutions Ltd
143 Forbes & Company Ltd.
144 Force Motors Ltd
145 Fortis Healthcare Ltd.
146 Future Consumer Ltd
147 Future Lifestyle Fashions Limited
148 Future Retail Ltd
149 Gail India Ltd
150 Galaxy Surfactants Ltd
151 Gateway Distriparks Ltd
152 GE Power India Ltd
153 GE T&D India Ltd
154 General Insurance Corporation of India
155 GHCL Ltd
156 GIC Housing Finance Ltd
157 Gillette India Ltd
158 GlaxoSmithKline Consumer Healthcare Ltd
159 GlaxoSmithKline Pharmaceuticals Ltd
160 Glenmark Pharmaceuticals Ltd
161 GMR Infrastructure Ltd
162 Godfrey Phillips India Ltd
163 Godrej Agrovet Ltd
164 Godrej Consumer Products Ltd
165 Godrej Industries Ltd
166 Godrej Properties Ltd
167 Granules India Ltd
168 Graphite India Ltd.
169 Grasim Industries Ltd
170 Great Eastern Shipping Co Ltd/The
171 Greaves Cotton Ltd.
172 Greenply Industries Ltd.
173 Grindwell Norton Ltd
174 GRUH Finance Ltd.
175 Gujarat Alkalies & Chemicals Ltd.
176 Gujarat Fluorochemicals
177 Gujarat Gas Ltd
178 Gujarat Mineral Development Corp Ltd
179 Gujarat Narmada Valley Fertilizers and Chemicals Limited
180 Gujarat Pipavav Port Ltd
181 Gujarat State Fertilisers & Chemicals Ltd
182 Gujarat State Petronet Ltd
183 Gulf Oil Lubricants India Ltd
184 Hatsun Agro Products Ltd
185 Havells India Ltd
186 HCL Technologies Ltd
187 HDFC Bank Ltd
188 HDFC Standard Life Insurance Company Ltd
189 HEG Ltd
190 HeidelbergCement India Ltd.
191 Heritage Foods Ltd
192 Hero MotoCorp Ltd
193 Hexaware Technologies Ltd
194 Himachal Futuristic Communications Ltd
195 Himadri Speciality Chemical Ltd
196 Himatsingka Seide
197 Hindalco Industries Ltd
198 Hindustan Aeronautics Ltd
199 Hindustan Copper
200 Hindustan Petroleum Corp Ltd
201 Hindustan Unilever Ltd
202 Hindustan Zinc Ltd
203 Honeywell Automation India Ltd
204 Housing and Urban Development Corporation Ltd
205 Housing Development Finance Corp
206 HSIL Ltd
207 ICICI Bank Ltd
208 ICICI Lombard General Insurance Company Ltd
209 ICICI Prudential Life Insurance Company Ltd
210 ICICI Securities Ltd
211 IDBI Bank Ltd
212 IDFC Bank Ltd
213 IDFC Limited
214 IFB Industries Ltd
215 IFCI Ltd
216 India Cements Ltd
217 India Tourism Development Corp Ltd
218 Indiabulls Housing Finance Limited
219 Indiabulls Integrated Services Ltd
220 Indiabulls Real Estate Ltd
221 Indiabulls Ventures Ltd
222 Indian Bank
223 Indian Energy Exchange Ltd
224 Indian Hotels Co Ltd
225 Indian Oil Corp Ltd
226 Indian Overseas Bank
227 Indostar Capital Finance Ltd
228 Indraprastha Gas Ltd
229 IndusInd Bank Ltd
230 Infibeam Avenues Ltd
231 Info Edge (India) Ltd.
232 Infosys Ltd
233 Inox Leisure
234 Inox Wind Ltd
235 Intellect Design Arena Ltd.
236 InterGlobe Aviation Ltd
237 Ipca Laboratories Ltd
238 IRB Infrastructure Developers Ltd
239 ISGEC Heavy Engineering Ltd
240 ITC Ltd
241 ITD Cementation India Ltd
242 ITI Ltd
243 J. K. Tyre Industries Ltd
244 J.B.Chemicals & Pharmaceuticals Ltd.
245 J.K. Cement Ltd.
246 Jagran Prakashan Ltd
247 Jai Corp Ltd
248 Jain Irrigation Systems Ltd
249 Jaiprakash Associates Ltd
250 Jammu & Kashmir Bank Ltd
251 Jamna Auto Industries Ltd
252 Jet Airways India Ltd
253 Jindal SAW Ltd
254 Jindal Stainless (Hisar) Ltd
255 Jindal Stainless Ltd.
256 Jindal Steel & Power Ltd
257 JK Lakshmi Cement Ltd
258 JM Financial Ltd
259 Johnson Controls -Hitachi Air Conditioning India Ltd
260 JSW Energy Ltd
261 JSW Steel Ltd
262 Jubilant FoodWorks Ltd
263 Jubilant Life Sciences Ltd
264 Just Dial Ltd
265 Jyothy Laboratories Ltd
266 Kajaria Ceramics Ltd.
267 Kalpataru Power Transmission Ltd
268 Kansai Nerolac Paints Ltd.
269 Karnataka Bank Ltd
270 Kaveri Seed Co Ltd
271 KEC International Ltd/India
272 KEI Industries Ltd
273 KIOCL Ltd
274 KNR Constructions Ltd
275 Kotak Mahindra Bank Ltd
276 KPIT Technologies Ltd
277 KPR Mill Ltd
278 KRBL Ltd
279 L&T Finance Holdings Ltd
280 L&T Technology Services Ltd
281 La Opala Rg Ltd.
282 Lakshmi Machine Works Ltd
283 Lakshmi Vilas Bank Ltd.
284 Larsen & Toubro Infotech Ltd
285 Larsen & Toubro Ltd
286 Laurus Labs Ltd
287 Lemon Tree Hotels Ltd
288 LIC Housing Finance Ltd
289 Linde India Ltd
290 Lupin Ltd
291 Lux Industries Ltd
292 Magma Fincorp Ltd.
293 Mahanagar Gas Ltd
294 Mahindra & Mahindra Financial Services Ltd
295 Mahindra & Mahindra Ltd
296 Mahindra CIE Automotive Ltd
297 Mahindra Holidays & Resorts India Ltd
298 Mahindra Lifespace Developers Ltd
299 Mahindra Logistics Ltd
300 Manappuram Finance Ltd
301 Mangalore Refinery & Petrochemicals Ltd
302 Manpasand Beverages Ltd
303 Marico Ltd
304 Maruti Suzuki India Ltd
305 Max Financial Services Ltd
306 Max India Ltd
307 Meghmani Organics Ltd
308 Merck Ltd.
309 Minda Corporation Ltd
310 Minda Industries Ltd
311 MindTree Ltd
312 MMTC LTD
313 MOIL Ltd
314 Monsanto India Ltd
315 Motherson Sumi Systems Ltd
316 Motilal Oswal Financial Services Ltd
317 MphasiS Ltd
318 MRF Ltd
319 Multi Commodity Exchange of India Limited
320 Muthoot Finance Ltd
321 Narayana Hrudayalaya Ltd
322 Natco Pharma Ltd
323 National Aluminium Co Ltd
324 Nava Bharat Ventures Ltd
325 Navin Fluorine International Ltd.
326 Navkar Corporation Ltd
327 Navneet Education Ltd
328 NBCC (India) Ltd
329 NCC Ltd/India
330 Nesco Ltd.
331 Nestle India Ltd
332 Network 18 Media & Investments Ltd
333 NHPC Ltd
334 NIIT Technologies Ltd
335 Nilkamal Ltd
336 NLC India Ltd
337 NMDC Ltd
338 NOCIL Ltd.
339 NTPC Ltd
340 Oberoi Realty Ltd
341 Oil & Natural Gas Corp Ltd
342 Oil India Ltd
343 Omaxe Ltd
344 Oracle Financial Services Software Ltd
345 Orient Cement Ltd
346 Oriental Bank Of Commerce
347 Page Industries Ltd
348 Parag Milk Foods Ltd
349 PC Jeweller Ltd.
350 Persistent Systems Ltd
351 Petronet LNG Ltd
352 Pfizer Ltd (India)
353 Phillips Carbon Black Ltd
354 Phoenix Mills Ltd
355 PI Industries Ltd
356 Pidilite Industries Ltd
357 Piramal Enterprises Ltd
358 PNB Housing Finance Ltd
359 PNC Infratech Ltd
360 Power Finance Corp Ltd
361 Power Grid Corp of India Ltd
362 Prestige Estates Projects Ltd
363 Prism Johnson Ltd
364 Procter & Gamble Hygiene & Health Care Ltd
365 PTC India Ltd
366 Punjab National Bank
367 PVR Ltd
368 Quess Corp Ltd
369 Radico Khaitan Ltd
370 Rain Industries Limited
371 Rajesh Exports Ltd
372 Rallis India Ltd
373 Ramco Cements Ltd
374 Rashtriya Chemicals & Fertilizers Ltd.
375 Ratnamani Metals & Tubes Ltd
376 Raymond Ltd.
377 RBL Bank Ltd
378 REC Ltd
379 Redington India Ltd
380 Relaxo Footwears Ltd
381 Reliance Capital Ltd
382 Reliance Communications Ltd
383 Reliance Industries Ltd
384 Reliance Infrastructure Ltd
385 Reliance Nippon Life Asset Management Ltd
386 Reliance Power Ltd
387 Repco Home Finance Ltd.
388 S H Kelkar and Company Ltd
389 Sadbhav Engineering Ltd
390 Sanofi India Ltd
391 SBI Life Insurance Company Ltd
392 Schaeffler India Ltd
393 Schneider Electric Infrastructure Ltd.
394 Security and Intelligence Services (India) Ltd
395 Shankara Building Products Ltd
396 Sharda Cropchem Limited
397 Sheela Foam Ltd
398 Shilpa Medicare Ltd
399 Shipping Corp of India Ltd
400 Shoppers Stop Ltd
401 Shree Cement Ltd
402 Shriram City Union Finance Ltd.
403 Shriram Transport Finance Co Ltd
404 Siemens India Ltd
405 SJVN Ltd
406 SKF India Ltd
407 Sobha Limited
408 Solar Industries India Ltd
409 Somany Ceramics Ltd
410 Sonata Software Ltd
411 South Indian Bank Ltd
412 SpiceJet Ltd.
413 SREI Infrastructure Finance Ltd
414 SRF Ltd
415 Star Cement Ltd
416 State Bank of India
417 Steel Authority of India Ltd
418 Sterlite Technologies Ltd.
419 Strides Pharma Science Ltd
420 Sudarshan Chemical Industries
421 Sun Pharma Advanced Research Co Ltd
422 Sun Pharmaceutical Industries Ltd
423 Sun TV Network Ltd
424 Sundaram Clayton Ltd
425 Sundaram Fastners
426 Sunteck Realty Ltd
427 Suprajit Engineering Ltd
428 Supreme Industries
429 Supreme Petrochem Ltd.
430 Suven Life Sciences Ltd
431 Suzlon Energy Ltd
432 Swan Energy Ltd.
433 Symphony Ltd
434 Syndicate Bank
435 Syngene International Ltd
436 Take Solutions Ltd
437 Tamilnadu Newsprint & Papers
438 Tata Chemicals Ltd
439 Tata Coffee Ltd.
440 Tata Communications Ltd
441 Tata Consultancy Services Ltd
442 Tata Elxsi Ltd
443 Tata Global Beverages Ltd
444 Tata Investment Corp Ltd
445 Tata Metaliks Ltd.
446 Tata Motors Ltd
447 Tata Power Co Ltd
448 Tata Steel Ltd
449 TeamLease Services Ltd
450 Tech Mahindra Ltd
451 Tejas Networks Ltd
452 The New India Assurance Company Ltd
453 Thermax Ltd
454 Thomas Cook (India) Ltd
455 Thyrocare Technologies Ltd
456 TI Financial Holdings Ltd.
457 Time Technoplast Ltd.
458 Timken India Ltd.
459 Titan Co Ltd
460 Torrent Pharmaceuticals Ltd
461 Torrent Power Ltd
462 Trent Ltd.
463 Trident Ltd.
464 Triveni Turbine Limited
465 TTK Prestige Ltd
466 Tube Investments Of India
467 TV Today Network
468 TV18 Broadcast Ltd
469 TVS Motor Co Ltd
470 TVS Srichakra Ltd
471 UCO Bank
472 Uflex Ltd
473 Ujjivan Financial Services Ltd
474 UltraTech Cement Ltd
475 Union Bank of India
476 United Breweries Ltd
477 UPL Ltd
478 V-Guard Industries Ltd
479 V-Mart Retail Limited
480 VA Tech Wabag Ltd
481 Vardhman Textiles Ltd.
482 Varun Beverages Ltd
483 Vedanta Ltd
484 Venky's India Ltd
485 Vijaya Bank
486 Vinati Organics Ltd
487 VIP Industries Ltd
488 Vodafone Idea Ltd
489 Voltas Ltd
490 WABCO India Ltd
491 Welspun Corp Ltd
492 Welspun India Ltd.
493 Westlife Development Ltd
494 Whirlpool of India Ltd
495 Wipro Ltd
496 Wockhardt Ltd
497 Yes Bank Ltd
498 Zee Entertainment Enterprises Ltd
499 Zensar Technologies Ltd
500 Zydus Wellness Ltd
Reason