Global Pet Industries (NSE:GLOBALPET) Momentum Rank : 0 (As of May. 24, 2024)

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What is Global Pet Industries Momentum Rank?

Global Pet Industries has the Momentum Rank of 0.

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.

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Global Pet Industries (NSE:GLOBALPET) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Global Pet Industries Ltd (NSE:GLOBALPET) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Unit Nos. 8 to 15, 108 & 109, Karishma Industrial Estate, Survey No. 36, Hissa No. 5, Village Waliv, Dhumal Nagar, Near Rashmi Bungalow, Vasai East, Palghar, Vasai, MH, IND, 401208

Website

https://www.globalpetind.com

Global Pet Industries Ltd is engaged in manufacturing of PET Stretch Blow Moulding Machine which is used for manufacturing of machine which is suitable in the business segment of Pet stretch below moulding solutions from 50ml to 20 Litres of PET bottles such as fridge bottles, packaged drinking mineral water bottles, carbonated soft drinks bottles, hot fill juice bottles, edible oil bottles, liquid detergent bottles, cosmetic products bottles, confectionery jars, Pharma bottles, liquor & distilleries bottles, pesticides bottles, etc. Apart from manufacturing of PET Stretch Blow Moulding Machine, the company also provides after-sales services such as providing spares, components, accessories and providing repairs and maintenance of the machines after delivery.

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