Premier Explosives (BOM:526247) Momentum Rank : 3 (As of May. 27, 2024)

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What is Premier Explosives Momentum Rank?

Premier Explosives 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 Premier Explosives's Momentum Rank

For the Specialty Chemicals subindustry, Premier Explosives'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.

Premier Explosives's Momentum Rank Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Premier Explosives's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Premier Explosives's Momentum Rank falls into.

Premier Explosives Momentum Rank Related Terms

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Premier Explosives (BOM:526247) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Premier Explosives Ltd (BOM:526247) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

PREMEXPLN:India

Address

Ishaq Colony, Premier House, 11, Near AOC Centre, Secunderabad, TG, IND, 500 015

Website

https://www.pelgel.com

Premier Explosives Ltd is an engaged in the business of high energy materials including commercial explosives and defence explosives which are used in mining and infrastructure sectors and also manufacture of missiles and other defence items. The company also operates and maintains solid propellant plants of defence and space establishments. Its products include bulk explosives, packaged explosives detonators, solid propellants, and pyrogen igniters among others. Geographically, it has operations within India and outside India. The company generates the majority of its sales from India.

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