Steel Authority Of India (NSE:SAIL) Momentum Rank : 10 (As of May. 22, 2024)

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What is Steel Authority Of India Momentum Rank?

Steel Authority Of India has the Momentum Rank of 10.

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 Steel Authority Of India's Momentum Rank

For the Steel subindustry, Steel Authority Of India'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.

Steel Authority Of India's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Steel Authority Of India's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Steel Authority Of India's Momentum Rank falls into.

Steel Authority Of India Momentum Rank Related Terms

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Steel Authority Of India (NSE:SAIL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Steel Authority Of India Ltd (NSE:SAIL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

500113:India

Address

Lodi Road, Ispat Bhawan, New Delhi, IND, 110003

Website

https://www.sail.co.in

Steel Authority Of India Ltd is a steelmaker. The company primarily produces flat steel products (including plates, sheets, coils, and galvanized plain), long steel products (rails, structural, wire rods, and merchant products), electric-resistance-welded pipes, and silicon steel sheets. Flat and long products account for the majority of the company's sales. The company runs five integrated steel plants and three alloy steel plants. It generates most of its revenue from the Indian domestic market.