Mid India Industries (BOM:500277) Momentum Rank : 7 (As of May. 13, 2024)

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What is Mid India Industries Momentum Rank?

Mid India Industries has the Momentum Rank of 7.

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 Mid India Industries's Momentum Rank

For the Textile Manufacturing subindustry, Mid India 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.

Mid India Industries's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Mid India Industries's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Mid India Industries's Momentum Rank falls into.

Mid India Industries Momentum Rank Related Terms

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Mid India Industries (BOM:500277) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Mid India Industries Ltd (BOM:500277) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

401, Princess Centre, 6/3, New Palasia, Indore, MP, IND, 452003

Website

https://www.midindiaindustries.com

Mid India Industries Ltd is a textile manufacturing company. Principally, it is engaged in the preparation and spinning of cotton fiber including blended cotton. The company offers products under categories regular which consist of cotton yarn, polyester and cotton blended, and polyester yarns and special products including cotton and blended yarn spindles, and rotors. It operates in two business segments that is trading and leasing divison. The firm derives majority revenue through the manufacturing and trading activity of cotton /polyster Cotton blended yarn.

Mid India Industries (BOM:500277) Headlines

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