Pitti Engineering (BOM:513519) Momentum Rank : 1 (As of Jun. 23, 2024)

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What is Pitti Engineering Momentum Rank?

Pitti Engineering has the Momentum Rank of 1.

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 Pitti Engineering's Momentum Rank

For the Metal Fabrication subindustry, Pitti Engineering'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.

Pitti Engineering's Momentum Rank Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Pitti Engineering's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Pitti Engineering's Momentum Rank falls into.

Pitti Engineering Momentum Rank Related Terms

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Pitti Engineering (BOM:513519) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Pitti Engineering Ltd (BOM:513519) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

PITTIENG:India

Address

Padmaja Landmark, 6-3-648/401, 4th Floor, Somajiguda, Hyderabad, TG, IND, 500082

Website

https://www.pitti.in

Pitti Engineering Ltd is a company engaged in the manufacture of special-purpose laminations of all types of rotating electrical machinery. It is also into manufacturing electrical steel laminations, motor cores, sub-assemblies, die-cast rotors, and press tools. The company's products have applications in industrial motors, alternators, hydroelectric and thermal power generators, wind power generators, DC machines, railway traction motors, pumps, medical diagnostic equipment, and aeronautic wing control motors. It sells its products both in domestic and international markets and generates maximum revenue from India.

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