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 50 is 1.9% below its 200-day average

Top 20 by momentum score — Nifty Smallcap 250

3 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 Smallcap 250 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
#4BELRISE—
Belrise Industries Ltd.
Automobile and Auto Components
12-1 ret
104.8%
Vol
38.6%
Score
2.71
#5NETWEB—
Netweb Technologies India Ltd.
Information Technology
12-1 ret
156.7%
Vol
59.2%
Score
2.65
#6KIRLOSENG—
Kirloskar Oil Eng Ltd.
Capital Goods
12-1 ret
116.6%
Vol
46.5%
Score
2.51
#7SYRMA 1 up 1 vs last month
Syrma SGS Technology Ltd.
Capital Goods
12-1 ret
98.0%
Vol
41.9%
Score
2.34
#8GRANULES 1 up 1 vs last month
Granules India Ltd.
Healthcare
12-1 ret
61.5%
Vol
29.9%
Score
2.06
#9ANANDRATHI 2 down 2 vs last month
Anand Rathi Wealth Ltd.
Financial Services
12-1 ret
42.7%
Vol
23.2%
Score
1.84
#10RRKABEL 1 up 1 vs last month
R R Kabel Ltd.
Capital Goods
12-1 ret
68.6%
Vol
37.8%
Score
1.82
#11HINDCOPPER 1 up 1 vs last month
Hindustan Copper Ltd.
Metals & Mining
12-1 ret
94.7%
Vol
54.6%
Score
1.73
#12CRAFTSMAN 1 up 1 vs last month
Craftsman Automation Ltd.
Automobile and Auto Components
12-1 ret
59.5%
Vol
36.7%
Score
1.62
#13WELCORP 2 up 2 vs last month
Welspun Corp Ltd.
Capital Goods
12-1 ret
52.5%
Vol
36.2%
Score
1.45
#14DATAPATTNS 2 up 2 vs last month
Data Patterns (India) Ltd.
Capital Goods
12-1 ret
68.3%
Vol
47.9%
Score
1.43
#15STARHEALTH 12 up 12 vs last month
Star Health and Allied Insurance Company Ltd.
Financial Services
12-1 ret
34.0%
Vol
23.9%
Score
1.42
#16NAVINFLUOR 3 up 3 vs last month
Navin Fluorine International Ltd.
Chemicals
12-1 ret
47.0%
Vol
33.6%
Score
1.40
#17SAILIFE 3 down 3 vs last month
Sai Life Sciences Ltd.
Healthcare
12-1 ret
46.6%
Vol
34.3%
Score
1.36
#18GESHIP—
Great Eastern Shipping Co. Ltd.
Services
12-1 ret
46.0%
Vol
34.1%
Score
1.35
#19GPIL 3 up 3 vs last month
Godawari Power & Ispat Ltd.
Capital Goods
12-1 ret
48.6%
Vol
36.8%
Score
1.32
#20RBLBANK 1 up 1 vs last month
RBL Bank Ltd.
Financial Services
12-1 ret
40.7%
Vol
30.9%
Score
1.32