Electrotherm (India) (BOM:526608) Momentum Rank : 3 (As of May. 25, 2024)

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What is Electrotherm (India) Momentum Rank?

Electrotherm (India) has the Momentum Rank of 3.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Electrotherm (India)'s Momentum Rank

For the Steel subindustry, Electrotherm (India)'s Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Electrotherm (India)'s Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Electrotherm (India)'s Momentum Rank distribution charts can be found below:

* The bar in red indicates where Electrotherm (India)'s Momentum Rank falls into.

Electrotherm (India) Momentum Rank Related Terms

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Electrotherm (India) (BOM:526608) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Electrotherm (India) Ltd (BOM:526608) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ELECTHERM:India

Address

Survey Number 72, Taluka Kalol, Palodia, Via Thaltej, Gandhinagar, Ahmedabad, GJ, IND, 382115

Website

https://www.electrotherm.com

Electrotherm (India) Ltd is an Indian company involved in the metal fabrication business sector. The company manufactures induction furnaces, casting machines, transformers, sponge and pig iron, ferrous and non-ferrous billets/ bars/ ingots, ductile iron pipes, transmission line towers, battery-operated vehicles and services relating to steel melting, and other capital equipment. The operating segments of the company include Engineering and Technology, Special Steel, Electric Vehicles, and Others. The company generates maximum revenue from the Special Steel segment. Geographically, the company derives revenue from India.

Electrotherm (India) (BOM:526608) Headlines

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