Nitco (BOM:532722) Momentum Rank : 3 (As of Sep. 24, 2024)

View and export this data going back to 2006. Start your Free Trial

What is Nitco Momentum Rank?

Nitco 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 Nitco's Momentum Rank

For the Building Products & Equipment subindustry, Nitco'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.

Nitco's Momentum Rank Distribution in the Construction Industry

For the Construction industry and Industrials sector, Nitco's Momentum Rank distribution charts can be found below:

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

Nitco Momentum Rank Related Terms

Thank you for viewing the detailed overview of Nitco's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Nitco Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Nitco Ltd (BOM:532722) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NITCO:India

Address

Sheth Govindram Jolly Marg, NITCO House, Kanjur Marg (East), Mumbai, MH, IND, 400 042

Website

https://www.nitco.in

Nitco Ltd is an Indian company engaged in manufacturing and providing ceramic including floor/wall tiles, processing of marble, and outsourcing of vitrified tiles. It is also engaged in real estate development. The company portfolio comprises a range of tiles, marbles, mosaics, and development to real estate projects. Its segments include tiles and other related products, and real estate. The firm derives the majority of its revenue from tiles and other related products within India.

Nitco Headlines

No Headlines