Sutlej Textiles and Industries (BOM:532782) Momentum Rank : 8 (As of May. 31, 2024)

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What is Sutlej Textiles and Industries Momentum Rank?

Sutlej Textiles and Industries has the Momentum Rank of 8.

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 Sutlej Textiles and Industries's Momentum Rank

For the Textile Manufacturing subindustry, Sutlej Textiles and 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.

Sutlej Textiles and Industries's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

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

* The bar in red indicates where Sutlej Textiles and Industries's Momentum Rank falls into.

Sutlej Textiles and Industries Momentum Rank Related Terms

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Sutlej Textiles and Industries (BOM:532782) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Sutlej Textiles and Industries Ltd (BOM:532782) » Definitions » Momentum Rank

Traded in Other Exchanges

SUTLEJTEX:India

Address

Near Jay Coach, Off Western Express Highway, E-wing, 5th & 6th Floor, Lotus Corporate Park, 185/A, Graham Firth Steel Compound, Goregaon (East), Mumbai, MH, IND, 400063

Website

https://www.sutlejtextiles.com

Sutlej Textiles and Industries Ltd is a textile manufacturing company. It manufactures cotton blended dyed and melange yarn, natural and blended yarns and fabrics, and home textile furnishing. The business segments of the group are Yarn which comprises cotton and man-made fibers yarn and Home Textiles which comprises home furnishing and fabric processing. The yarn segment contributes majorly to the revenue of the company.

Sutlej Textiles and Industries (BOM:532782) Headlines

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