Today's momentum rankings — Indian markets

One published formula, every segment, every trading day: 12-month return (skipping the latest month) ÷ annualized volatility. What ranks highest is listed below — a description of past prices, not advice.

Data as of 17 Jul 2026Next weekly rebalance 17 Jul 2026Nifty 500 is 1.2% above its 200-day average

Top 20 by momentum score — Nifty 500

2 of 20 names entered at the latest calculation

Scores refresh each trading day; the backtest rebalances weekly (Friday close)

How this score is computed

score = 12-1 return ÷ annualized volatility

12-1 return:the stock's total return over the past 12 months, excluding the most recent month. The latest month is skipped because academic research finds short-term returns tend to reverse.
Annualized volatility: the standard deviation of daily returns over the past year, scaled to annual terms. Dividing by volatility penalizes stocks whose gains came with wild swings.
Ranking: every stock in the Nifty 500 with sufficient price history is scored the same way; the 20 highest scores are listed here. Scores are recalculated every trading day.

This is a mechanical calculation on historical prices. A high score describes past behaviour only — it says nothing about what the stock will do next. Details, evidence and limitations are on the methodology page.

Stocks ranked by the published momentum formula — 12-1 return divided by volatility. Ranks are descriptive, not recommendations.
# — rank	Δ prev — rank change vs the previous calculation	Symbol	Name	Sector	12-1 return — 12-month return skipping the most recent month	Volatility — annualized volatility of daily returns	Score — 12-1 return divided by volatility
01	1 up 1 vs last month	ACUTAAS	Acutaas Chemicals Ltd.	Healthcare	173.4%	42.9%	4.04
02	1 down 1 vs last month	ATHERENERG	Ather Energy Ltd.	Automobile and Auto Components	181.7%	49.8%	3.65
03	—	HFCL

These are the stocks currently ranking highest on the formula. A place on this list is not a recommendation, rating or endorsement of any security. Momentum rankings change often, sometimes drastically.

What this is

One published, mechanical formula applied to historical prices — every step shown.
An educational look at momentum as an academic factor, crashes and drawdowns included.
A backtest with its assumptions, costs and limitations stated in full.

What this is not

Not investment advice, research analysis, or a recommendation to act on any security.
Not run by a SEBI-registered analyst or adviser — for personal advice, consult someone who is registered.
Not a prediction. Past performance, backtest included, does not guarantee future results.

#1ACUTAAS 1 up 1 vs last month
Acutaas Chemicals Ltd.
Healthcare
12-1 ret
173.4%
Vol
42.9%
Score
4.04
#2ATHERENERG 1 down 1 vs last month
Ather Energy Ltd.
Automobile and Auto Components
12-1 ret
181.7%
Vol
49.8%
Score
3.65
#3HFCL—
HFCL Ltd.
Telecommunication
12-1 ret
143.1%
Vol
46.9%
Score
3.05
#4GVT&D—
GE Vernova T&D India Ltd.
Capital Goods
12-1 ret
130.1%
Vol
44.2%
Score
2.94
#5BELRISE 1 up 1 vs last month
Belrise Industries Ltd.
Automobile and Auto Components
12-1 ret
104.8%
Vol
38.6%
Score
2.71
#6NETWEB 1 up 1 vs last month
Netweb Technologies India Ltd.
Information Technology
12-1 ret
156.7%
Vol
59.2%
Score
2.65
#7NATIONALUM 2 down 2 vs last month
National Aluminium Co. Ltd.
Metals & Mining
12-1 ret
102.9%
Vol
39.8%
Score
2.58
#8KIRLOSENG—
Kirloskar Oil Eng Ltd.
Capital Goods
12-1 ret
116.6%
Vol
46.5%
Score
2.51
#9CUMMINSIND 1 up 1 vs last month
Cummins India Ltd.
Capital Goods
12-1 ret
68.6%
Vol
27.6%
Score
2.48
#10SYRMA 4 up 4 vs last month
Syrma SGS Technology Ltd.
Capital Goods
12-1 ret
98.0%
Vol
41.9%
Score
2.34
#11BHARATFORG—
Bharat Forge Ltd.
Automobile and Auto Components
12-1 ret
67.3%
Vol
29.2%
Score
2.30
#12LAURUSLABS 3 down 3 vs last month
Laurus Labs Ltd.
Healthcare
12-1 ret
66.4%
Vol
28.9%
Score
2.30
#13POWERINDIA 3 up 3 vs last month
Hitachi Energy India Ltd.
Capital Goods
12-1 ret
96.3%
Vol
44.0%
Score
2.19
#14FEDERALBNK 2 down 2 vs last month
Federal Bank Ltd.
Financial Services
12-1 ret
53.1%
Vol
25.1%
Score
2.11
#15ADANIPOWER 5 up 5 vs last month
Adani Power Ltd.
Power
12-1 ret
89.1%
Vol
43.1%
Score
2.07
#16GRANULES 2 up 2 vs last month
Granules India Ltd.
Healthcare
12-1 ret
61.5%
Vol
29.9%
Score
2.06
#17IDEA 2 down 2 vs last month
Vodafone Idea Ltd.
Telecommunication
12-1 ret
94.7%
Vol
48.9%
Score
1.94
#18MCX 1 down 1 vs last month
Multi Commodity Exchange of India Ltd.
Financial Services
12-1 ret
72.2%
Vol
37.7%
Score
1.92
#19ADANIENSOL 5 up 5 vs last month
Adani Energy Solutions Ltd.
Power
12-1 ret
73.0%
Vol
38.1%
Score
1.92
#20HINDALCO 3 up 3 vs last month
Hindalco Industries Ltd.
Metals & Mining
12-1 ret
52.4%
Vol
27.7%
Score
1.89