Automating NIfty PE analysis + historical data of all NSE Indices

I have published two free spreadsheets to automatically analyse Nifty PE, Nifty PB, Dividend Yield, ROE, EPS levels (nifty and 21 other NSE indices) and another to automatically download NSE index data. Please do give this a try and let me know your feedback.

Download Nifty Historical Data: Price, Total Returns, PE, PB and Div Yield
A one stop shop solution for downloading Nifty historical data: the price data from 59 NSE indices, the total returns (dividends reinvested) Nifty 50 index, PE, PB and dividend yield ratios for 51 indices and the volatility index: India VIX (for personal use only)

Nifty Valuation Analysis with PE, PB, Div Yield, ROE, EPS of 21 NSE Indices
Excel sheet to automatically determine the valuation of 21 NSE indices with long-term averages of PE, PB and Div Yield ratios along with ROE and rolling one-year EPS growth rate and dual moving averages. (for personal use only)



I tried downloading the file Niftydownloader_v1.2-final and when I selected to download any index data it gives following error:

“Compile error in hidden Module: ‘Nifty’. This error commonly occurs when code is incompatible with the version, platform, or architecture of this application”

I tried other sheet as well and similar error there.

I am trying this on MAC Book ( OS El Captain)

Sorry, won’t work on Mac. If there is enough interest, I can convert the vba for mac.

Hi. I’m also using MacBook Pro, if you could provide a link which can work on Mac, it would be very useful. Thanks!

What is the source for the PE data? The reason for asking is that most of the commonly available sources like, etc do not compute PE or PB based on consolidated results. They are published based on standalone results, and hence inaccurate.

Thank you.

Of course, it is from NSE! Where would I get historical consolidated PE? And is there any study that shows the efficacy of using this over the standalone data?

Let me give this a try.

There are no freely available published data on consolidated results and practically every free source uses standalone. That is what led me to publish consolidated Nifty PE every quarter here Nifty PE.

The question is not one of efficacy but of accuracy. The value of a company to its shareholder is what the company and its subsidiaries earn, not just the company. I had written about it here A company is known by the company it keeps.

Typically for Nifty,there is about a 20-30% difference between the two, which is big, so a focus on standalone will overstate PE et al to that extent.

My problem is, how would someone who wishes to time the market use this data? Personally, I do not care for any kind of PE data and there is no arguing that the consolidated PE is accurate, but besides an academic observation of market movements (which I am happy to learn from) , what use can I put it to?
And if the disparity (however big it may be) is pretty much constant in time, then the standalone data is good enough for timers. So it is a question of efficacy. Accurate does not mean useful.


If you wish this for timers, I think I am at the wrong place.

As for the Standalone vs Consolidated disparity, it is not constant over time, as also shown in the article cited.

Thank you.

1 I don’t time, but needless to say many do.
2. May I request that we leave timing out of this and ask that you plot both PEs each quarter in your other thread? Thank you.

I unfortunately do not have the time to carry out the computation. The widening gap between Standalone and Consolidated over 10 years from 2005 to 2015 I carried out in the article will give you an idea.

If you know someone who has access to a Bloomberg Terminal, you may get that data to verify.

All the best.

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Update: NSE now offers total returns index data for all its (52) indices. You can use this sheet to download them along with 59 prices indices, and PE,PB, Div Yield ratios for 51 indices.

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