Jai Balaji Industries (BOM:532976) Momentum Rank : 1 (As of May. 24, 2024)

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What is Jai Balaji Industries Momentum Rank?

Jai Balaji Industries has the Momentum Rank of 1.

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 Jai Balaji Industries's Momentum Rank

For the Steel subindustry, Jai Balaji 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.

Jai Balaji Industries's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Jai Balaji Industries's Momentum Rank distribution charts can be found below:

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

Jai Balaji Industries Momentum Rank Related Terms

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Jai Balaji Industries (BOM:532976) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Jai Balaji Industries Ltd (BOM:532976) » Definitions » Momentum Rank

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Traded in Other Exchanges

JAIBALAJI:India

Address

5, Bentinck Street, 1st Floor, Kolkata, WB, IND, 700 001

Website

http://www.jaibalajigroup.com

Jai Balaji Industries Ltd is an India based iron and steel manufacturing company. It manufactures Sponge Iron, Pig Iron, Ductile Iron Pipe, Ferro Chrome, Billet, TMT, Coke, and Sinter. The company is engaged in a single reportable segment of Iron and Steel. Geographically, it has a business presence in India and also exports it to other countries, of which key revenue is derived from India.

Jai Balaji Industries (BOM:532976) Headlines

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