Investors are always looking for good quality stocks that have potential to outperform the market by giving excess return in the future. There are various tools available for selecting the stocks as well as there are research studies available on selecting the tools for picking up the stocks. But all these research focuses on only one tool or at times on some combination of tools. Some studies also focus on machine learning, artificial intelligence and building algorithms. But for retail investors using these tools is a challenging task. So, in this research an attempt is made to select the good quality stock by applying some basic filters using fundamental analysis.