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 16 Oct 2026Next weekly rebalance 23 Oct 2026Nifty 50 is 4.3% below its 200-day average

Top 20 by momentum score — Nifty Smallcap 250

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 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	—	STLTECH	Sterlite Technologies Ltd.	Telecommunication	584.8%	62.1%	9.41
02	—	CUPID	Cupid Ltd.	Fast Moving Consumer Goods	551.2%	59.1%	9.32
03	2 up 2 vs the previous calculation	SANSERA	Sansera Engineering 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.

A paid plan with list-change alerts and an export archive is being considered. Everything currently on this site stays free either way. If a plan like that interests you, a 2-minute form helps decide whether to build it.

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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.

#1STLTECH—
Sterlite Technologies Ltd.
Telecommunication
12-1 ret
584.8%
Vol
62.1%
Score
9.41
#2CUPID—
Cupid Ltd.
Fast Moving Consumer Goods
12-1 ret
551.2%
Vol
59.1%
Score
9.32
#3SANSERA 2 up 2 vs the previous calculation
Sansera Engineering Ltd.
Automobile and Auto Components
12-1 ret
173.2%
Vol
42.4%
Score
4.09
#4MTARTECH 1 down 1 vs the previous calculation
MTAR Technologies Ltd.
Capital Goods
12-1 ret
245.4%
Vol
61.2%
Score
4.01
#5WELCORP 1 down 1 vs the previous calculation
Welspun Corp Ltd.
Capital Goods
12-1 ret
179.1%
Vol
44.7%
Score
4.01
#6HFCL—
HFCL Ltd.
Telecommunication
12-1 ret
185.9%
Vol
51.8%
Score
3.59
#7CPPLUS—
Aditya Infotech Ltd.
Capital Goods
12-1 ret
149.4%
Vol
45.0%
Score
3.32
#8ATHERENERG—
Ather Energy Ltd.
Automobile and Auto Components
12-1 ret
148.8%
Vol
47.8%
Score
3.12
#9ACUTAAS—
Acutaas Chemicals Ltd.
Healthcare
12-1 ret
138.7%
Vol
45.0%
Score
3.08
#10SONACOMS—
Sona BLW Precision Forgings Ltd.
Automobile and Auto Components
12-1 ret
86.6%
Vol
31.5%
Score
2.75
#11AETHER—
Aether Industries Ltd.
Chemicals
12-1 ret
113.7%
Vol
41.6%
Score
2.73
#12KIRLOSENG—
Kirloskar Oil Eng Ltd.
Capital Goods
12-1 ret
132.5%
Vol
48.7%
Score
2.72
#13ANANDRATHI 2 up 2 vs the previous calculation
Anand Rathi Wealth Ltd.
Financial Services
12-1 ret
52.0%
Vol
21.9%
Score
2.38
#14THANGAMAYL 2 up 2 vs the previous calculation
Thangamayil Jewellery Ltd.
Consumer Durables
12-1 ret
145.0%
Vol
61.3%
Score
2.37
#15SAILIFE 1 down 1 vs the previous calculation
Sai Life Sciences Ltd.
Healthcare
12-1 ret
78.5%
Vol
33.8%
Score
2.32
#16RRKABEL 1 up 1 vs the previous calculation
R R Kabel Ltd.
Capital Goods
12-1 ret
90.0%
Vol
40.8%
Score
2.21
#17TDPOWERSYS 4 down 4 vs the previous calculation
TD Power Systems Ltd.
Capital Goods
12-1 ret
120.5%
Vol
55.2%
Score
2.18
#18NAVINFLUOR—
Navin Fluorine International Ltd.
Chemicals
12-1 ret
78.9%
Vol
36.7%
Score
2.15
#19HONASA 3 up 3 vs the previous calculation
Honasa Consumer Ltd.
Fast Moving Consumer Goods
12-1 ret
60.1%
Vol
33.1%
Score
1.82
#20CRAFTSMAN 1 up 1 vs the previous calculation
Craftsman Automation Ltd.
Automobile and Auto Components
12-1 ret
65.3%
Vol
36.8%
Score
1.77