Title: – Relationship between the Nifty & HCL TECHNOLOGIES.

Author: – Het K Gandhi
Introduction: – HCL Technologies Limited, HCLTech (formerly Hindustan Computers Limited), is an Indian multinational information technology (IT) services and consulting company headquartered in Noida. It emerged as an independent company in 1991 when HCL entered into the software services business. The company has offices in 52 countries and over 210,966 employees.
HCLTech is on the Forbes Global 2000 list. It is among the top 20 largest publicly traded companies in India with a market capitalisation of ₹279,209 crore as of March 2022.
HCL Tech current stock price is Rs.1,069/-

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: – Equity_rtn Y= -0.5408–0.2128 Nifty_rtn X+ e
(t-sat= -0.7939)
N=49, R^2= 0.0132, F=0.6303
t-sat of b is shown in bracket is (0.6303)
The P-value for this is 0.4312 which is more than 0.05 meaning ‘b’ is not statistically significant at 5% level.
N = 49
R^2 = 0.0132 which means 1.32% of Y is explained by X and balanced 98.68% is unexplained i.e., error.
F= 0.6303
P value for this is 0.4312 which is more than 0.05 which means that overall model is not statistically significant at 5% 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 down.

Conclusion: – As Beta is less than 1 it is not good for investment if nifty rises ,if Beta is more than 1 it is good for investment.

Report By: –
Het K Gandhi-021230022955 -OMSCM Batch (2022-24)