The Hi-Tech Gears (NSE:HITECHGEAR) Momentum Rank : 9 (As of Sep. 24, 2024)

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What is The Hi-Tech Gears Momentum Rank?

The Hi-Tech Gears has the Momentum Rank of 9.

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 The Hi-Tech Gears's Momentum Rank

For the Auto Parts subindustry, The Hi-Tech Gears'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.

The Hi-Tech Gears's Momentum Rank Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, The Hi-Tech Gears's Momentum Rank distribution charts can be found below:

* The bar in red indicates where The Hi-Tech Gears's Momentum Rank falls into.

The Hi-Tech Gears Momentum Rank Related Terms

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The Hi-Tech Gears Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » The Hi-Tech Gears Ltd (NSE:HITECHGEAR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

522073:India

Address

Sushant Lok 1, Sector 27, Tower B, 14th Floor, Unitech's Millennium plaza, Gurugram, HR, IND, 122009

Website

https://www.thehitechgears.com

The Hi-Tech Gears Ltd is a manufacturer of auto components. The company is primarily engaged in the business of gears and transmission components. It provides diverse parts and accessories for motor vehicles such as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalyzer, clutches, steering wheels, steering columns and steering boxes. The company's product includes power takeoff, car transmission and driveline components, precision forging or precision machining, and machined sintered components. Geographically, it derives a majority of revenue from India.

The Hi-Tech Gears Headlines

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