Gujarat Natural Resources (BOM:513536) Momentum Rank : 5 (As of Jun. 06, 2024)

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What is Gujarat Natural Resources Momentum Rank?

Gujarat Natural Resources has the Momentum Rank of 5.

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 Gujarat Natural Resources's Momentum Rank

For the Oil & Gas E&P subindustry, Gujarat Natural Resources'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.

Gujarat Natural Resources's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Gujarat Natural Resources's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Gujarat Natural Resources's Momentum Rank falls into.

Gujarat Natural Resources Momentum Rank Related Terms

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Gujarat Natural Resources (BOM:513536) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Gujarat Natural Resources Ltd (BOM:513536) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Near Nehru Nagar, Satellite Road, 3rd Floor, A Wing, Gopal Palace, Opposite Ocean Park, Ahmedabad, GJ, IND, 380015

Website

https://www.gnrl.in

Gujarat Natural Resources Ltd is an Indian company engaged in the business of oil and gas exploration and trading of goods and others. Ongoing projects of the company are Kanawara Field, Allora Field, Dholasan Field, North Kathana Field, Unawa Field, and North Balol. The Company earns key revenue from the sale of oil and natural gas exploration.

Gujarat Natural Resources (BOM:513536) Headlines

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