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Valecha Engineering (NSE:VALECHAENG) Momentum Rank : 0 (As of Jun. 03, 2024)


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What is Valecha Engineering Momentum Rank?

Valecha Engineering 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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Valecha Engineering (NSE:VALECHAENG) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Valecha Engineering Ltd (NSE:VALECHAENG) » Definitions » Momentum Rank
Comparable Companies
BOM:533761 NSE:SECL BOM:533152 BOM:533167 NSE:UNIVASTU NSE:MITCON BOM:504273 BOM:541353 BOM:541302 BOM:500426 XPAR:DG SHSE:601668 JCI SHSE:601390 SHSE:601186 HKSE:01800 NSE:LT XKRX:02826K XPAR:EN J
Traded in Other Exchanges
N/A
Address
Andheri New Link Road, Plot No. B-6, Valecha Chambers, 4th Floor, Andheri (West), Mumbai, MH, IND, 400053
Website
https://www.valecha.in
Valecha Engineering Ltd The Group is engaged in the construction of infrastructure and engineering projects such as Roads, Highways and Expressways, Bridges and Tunnels, Airports, Irrigation Dams, Reservoirs and Canals, Railways, Foundation and Piling Works. It operates in a single reportable segment as Construction Activity.

Valecha Engineering (NSE:VALECHAENG) Headlines

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