Prima Industries (BOM:531246) Momentum Rank : 4 (As of Jun. 23, 2024)

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What is Prima Industries Momentum Rank?

Prima Industries has the Momentum Rank of 4.

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 Prima Industries's Momentum Rank

For the Packaged Foods subindustry, Prima Industries'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.

Prima Industries's Momentum Rank Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Prima Industries's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Prima Industries's Momentum Rank falls into.

Prima Industries Momentum Rank Related Terms

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Prima Industries (BOM:531246) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Prima Industries Ltd (BOM:531246) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

Door No: V/679-C, Industrial Development Area, Muppathadam P O, Edayar, Cochin, KL, IND, 683110

Website

https://www.primaindustries.in

Prima Industries Ltd is an edible oil refinery company based in India. The principal activities of the company are manufacturing, extracting, producing, refining, importing, exporting, trading, and distributing all kinds of extraction of edible oils, non-edible oils, animal Feeds, and refined oils. The company's core business activities are categorized into two key segments - Cattle Feed division and Oil Cake Processing division. The majority of its revenue comes from the Oil Cake Processing division.

Prima Industries (BOM:531246) Headlines

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