Title: Relationship between Nifty and JSW Energy Ltd.
Author: Jyoti Govardhan Chilveri
Introduction: JSW Energy Limited is an Indian power company engaged in power generation, transmission and trading. The company also provides power plant construction, operation and maintenance services. The company produces power from thermal, hydro and solar sources. JSW operates thermal power plants in the states of Karnataka, Rajasthan and Maharashtra, solar power plants in the states of Rajasthan, Maharashtra, West Bengal and Andhra Pradesh and hydro power plants in Himachal Pradesh. It sells electricity through a mix of off-take arrangements, including long term power purchase agreements (PPAs) and short term PPAs and through power exchanges. The company also carries out coal and lignite mining, and equipment manufacturing. It has its presence across India and has stake in a coal mining company in South Africa. JSW Energy is headquartered in Mumbai, Maharashtra.
Objective: To calculate Beta and its significance
Data Collection: Data for equity and Nifty has been downloaded from NSE site for the period 1st Jan ,2022 to 31st Dec, 2022. The data was edited and manipulated to get Friday Closing price, weekly returns were found out of Nifty was considered as “X” and Equity was considered as “Y”.
Data analysis: Demand Y = 0.0861-0.9616 Niftyret x + e
(t-stat = 11.3075)
N= 49, R^2= 0.072, F= 127.86
The P-value for this is 3.897 which is less than 0.05 meaning ‘b’ is statistically significant at 5% level.
The above relationship tells us the relationship between Nifty and Equity returns.
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Conclusion: As Beta is more than 5 it is good for investment, if beta is less than 5 then it is not good for investment.

Report by:
Jyoti Govardhan Chilveri- 021230022258 – OSCM Batch