Elnet Technologies (BOM:517477) Momentum Rank : 9 (As of May. 27, 2024)

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What is Elnet Technologies Momentum Rank?

Elnet Technologies 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 Elnet Technologies's Momentum Rank

For the Real Estate - Diversified subindustry, Elnet Technologies'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.

Elnet Technologies's Momentum Rank Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Elnet Technologies's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Elnet Technologies's Momentum Rank falls into.

Elnet Technologies Momentum Rank Related Terms

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Elnet Technologies (BOM:517477) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Elnet Technologies Ltd (BOM:517477) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Rajiv Gandhi Salai, Elnet Software City, TS 140, Block Number 2 and 9, Taramani, Chennai, TN, IND, 600 113

Website

http://www.elnettechnologies.com

Elnet Technologies Ltd is engaged in providing infrastructure to Software and Business Process Outsourcing Industries. It also provides renting of office space. The company operates in developing and managing Software Technology Park in India. In addition, the firm provides infrastructure for the information technology (IT) and IT-enabled service (ITES) industry. It operates in the segment of Developing and maintaining integrated software technology parks. Geographically, the group has a business presence in India.

Elnet Technologies (BOM:517477) Headlines

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