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Aarey Drugs & Pharmaceuticals (NSE:AAREYDRUGS) Momentum Rank : 0 (As of Jun. 17, 2024)


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What is Aarey Drugs & Pharmaceuticals Momentum Rank?

Aarey Drugs & Pharmaceuticals has the Momentum Rank of 0.

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.

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Aarey Drugs & Pharmaceuticals (NSE:AAREYDRUGS) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Aarey Drugs & Pharmaceuticals Ltd (NSE:AAREYDRUGS) » Definitions » Momentum Rank
Comparable Companies
BOM:531592 BOM:524632 BOM:524506 BOM:524572 BOM:506128 BOM:524828 BOM:538964 BOM:531569 BOM:540694 BOM:539938 ZTS XTER:MRK TSE:4502 LSE:HLN NSE:SUNPHARMA TSE:4523 TSE:4507 SZSE:000538 XSWX:SDZ HKSE:03692
Traded in Other Exchanges
524412:India
Address
340/348, Narshi Natha Street, 107, Sahakar Bhavan, Masjid, Mumbai, MH, IND, 400 009
Website
http://www.aareydrugs.com
Aarey Drugs & Pharmaceuticals Ltd is engaged in bulk drug manufacturing and offers products for industrial applications. The company manufactures active pharmaceutical ingredients, intermediates, and specialty chemicals. It is also involved in the trading of industrial solvents and chemicals. The products offered by the company include N-Methyl urea, Dimethyl urea, Mefenamic acid, Metformin, Doxaphylline, BMD among others. The company principally carries its business operations in India.

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