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 Midcap 150 is 4.7% above its 200-day average

Top 15 by momentum score — Nifty Midcap 150

1 of 15 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 Midcap 150 with sufficient price history is scored the same way; the 15 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	—	GVT&D	GE Vernova T&D India Ltd.	Capital Goods	130.1%	44.2%	2.94
02	—	NATIONALUM	National Aluminium Co. Ltd.	Metals & Mining	102.9%	39.8%	2.58
03	1 up 1 vs last month	BHARATFORG	Bharat Forge Ltd.

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.

#1GVT&D—
GE Vernova T&D India Ltd.
Capital Goods
12-1 ret
130.1%
Vol
44.2%
Score
2.94
#2NATIONALUM—
National Aluminium Co. Ltd.
Metals & Mining
12-1 ret
102.9%
Vol
39.8%
Score
2.58
#3BHARATFORG 1 up 1 vs last month
Bharat Forge Ltd.
Automobile and Auto Components
12-1 ret
67.3%
Vol
29.2%
Score
2.30
#4LAURUSLABS 1 down 1 vs last month
Laurus Labs Ltd.
Healthcare
12-1 ret
66.4%
Vol
28.9%
Score
2.30
#5POWERINDIA 2 up 2 vs last month
Hitachi Energy India Ltd.
Capital Goods
12-1 ret
96.3%
Vol
44.0%
Score
2.19
#6FEDERALBNK 1 down 1 vs last month
Federal Bank Ltd.
Financial Services
12-1 ret
53.1%
Vol
25.1%
Score
2.11
#7IDEA 1 down 1 vs last month
Vodafone Idea Ltd.
Telecommunication
12-1 ret
94.7%
Vol
48.9%
Score
1.94
#8MCX—
Multi Commodity Exchange of India Ltd.
Financial Services
12-1 ret
72.2%
Vol
37.7%
Score
1.92
#9MAHABANK—
Bank of Maharashtra
Financial Services
12-1 ret
64.5%
Vol
34.3%
Score
1.88
#10APARINDS—
Apar Industries Ltd.
Capital Goods
12-1 ret
82.1%
Vol
46.1%
Score
1.78
#11KEI—
KEI Industries Ltd.
Capital Goods
12-1 ret
51.0%
Vol
31.1%
Score
1.64
#12BSE—
BSE Ltd.
Financial Services
12-1 ret
63.1%
Vol
38.7%
Score
1.63
#13POLYCAB—
Polycab India Ltd.
Capital Goods
12-1 ret
46.4%
Vol
29.1%
Score
1.59
#14BHEL—
Bharat Heavy Electricals Ltd.
Capital Goods
12-1 ret
58.1%
Vol
36.4%
Score
1.59
#15NYKAA 7 up 7 vs last month
FSN E-Commerce Ventures Ltd.
Consumer Services
12-1 ret
35.5%
Vol
28.1%
Score
1.26