Anjani Synthetics (BOM:531223) Momentum Rank : 6 (As of Jun. 23, 2024)

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What is Anjani Synthetics Momentum Rank?

Anjani Synthetics has the Momentum Rank of 6.

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 Anjani Synthetics's Momentum Rank

For the Textile Manufacturing subindustry, Anjani Synthetics'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.

Anjani Synthetics's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Anjani Synthetics's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Anjani Synthetics's Momentum Rank falls into.

Anjani Synthetics Momentum Rank Related Terms

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Anjani Synthetics (BOM:531223) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Anjani Synthetics Ltd (BOM:531223) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

221 (Maliya), New Cloth Market, Opposite Raipur Gate, Ahmedabad, GJ, IND, 380002

Website

https://www.anjanisynthetics.com

Anjani Synthetics Ltd is engaged in the business of textiles, made-ups, and home textiles. The company is involved in cloth processing activity. It offers a range of products including Bedsheets, Dress materials, Shirting, Scarves, Flannel, Curtains, and others. The group sells its products in India and Outside India of which a major portion of its revenue is earned within India.

Anjani Synthetics (BOM:531223) Headlines

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