Cummins India (BOM:500480) Momentum Rank : 9 (As of Jun. 09, 2024)

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What is Cummins India Momentum Rank?

Cummins India 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 Cummins India's Momentum Rank

For the Specialty Industrial Machinery subindustry, Cummins 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.

Cummins India's Momentum Rank Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Cummins India's Momentum Rank distribution charts can be found below:

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

Cummins India Momentum Rank Related Terms

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Cummins India (BOM:500480) Business Description

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CUMMINSIND:India

Address

Cummins India Office Campus, Tower A, 5th Floor, Survey No. 21, Balewadi, Pune, MH, IND, 411045

Website

https://www.cumminsindia.com

Cummins India Ltd is a group of businesses that design and manufacture service engines and related technologies. The company produces fuel systems, air handling, filtration, emission solutions, and electrical power generation systems in facilities across India. It has three business units: Engine Business, Power Systems Business, and Distribution Business. Its engines power a wide range of systems, including trucks, construction equipment, military components, railways, mining, and power generation applications. In addition, Cummins India provides aftermarket support and expertise to customers in different regions. The revenue is derived from India, but the company exports products to North America, Europe, and other Asian countries.

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