Title: – Relationship between the Nifty & Deccan Cements Limited

Author: – Dennis Alex
Introduction: Deccan Cements Limited is a listed public company incorporated on 31 July, 1979. It is classified as a public limited company and is located in Hyderabad, Telangana. The company manufactures, markets and sells cement in The company’s manufacturing operations are spread over North and East India with presence across approximately six states. It has a cement production capacity of 43.4 MTPA. The company has operations in Rajasthan, Uttarakhand, Bihar, Haryana, Chhattisgarh, and Uttar Pradesh.

Objective: – To calculate the Beta and its Significance.

Data Collection: – Data for Equity & Nifty has been downloaded from NSE site for the period from 01st 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 weekly report of equity were considered as “Y”.

Data Analysis: – Demand Y= -0.457- 0.985 Niftyret X+ e
(t-sat= – 4.764)
N=49, R^2= 0.325, F= 22.702
t-sat of b is shown in bracket is (-4.764).
The P-value for this is 0.0000185 which is less than 0.01 meaning ‘b’ is statistically significant at 1% level.
N = 49
R^2 = 0.325which means 32.5% of Y is explained by X and balanced 67.5% is unexplained i.e., error.
F= 22.702
P value for this is 0.0000185 which is less than 0.01 which means that overall model is statistically significant at 1% level.
The above equation tells us about the relationship between Nifty and Equity returns. Negative (-) sign shows inverse relationship which means if market goes up share price goes up.

Conclusion: – As Beta is less than 1 it is bad for investment.

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