Mehai Technology (BOM:540730) Momentum Rank : 6 (As of Jun. 15, 2024)

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What is Mehai Technology Momentum Rank?

Mehai Technology 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 Mehai Technology's Momentum Rank

For the Conglomerates subindustry, Mehai Technology'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.

Mehai Technology's Momentum Rank Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Mehai Technology's Momentum Rank distribution charts can be found below:

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

Mehai Technology Momentum Rank Related Terms

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Mehai Technology (BOM:540730) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Mehai Technology Ltd (BOM:540730) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Unit No. 708, 7th Floor, ECO Centre,Block-EM-4 Sector-V, Salt Lake, Kolkata, WB, IND, 700091

Website

https://www.mehaitech.co.in

Mehai Technology Ltd is engaged in the manufacturing of LED bulbs and fixtures. Its product range includes LED bulbs, night lamps, mood lights, tube lights, power banks, and pen drives. They specialize in in IT & ITES solutions and are committed with cutting edge technology solutions. The company's segments are Electronic Items and Trading activities.

Mehai Technology (BOM:540730) Headlines

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