Title: – Relationship of SREE RENUKA SUGER LTD with Nifty 50
Author: – Rutik Bhagwan Thotle (MMS First Year, Roll no. 0222060)
Kohinoor Business School, Kurla.
Introduction: – Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The Company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world. The company has its Corporate office in Mumbai (Maharashtra, India) and Head Office in Belgaum (Karnataka, India). The Company operates seven sugar mills in India with a total crushing capacity of 7.1 MTPA or 35,000 TCD and two port based sugar refineries with capacity of 1.7 MTPA.
Objective: – To Calculate the Beta of shree Renuka sugar ltd and find out its significance.
Views and Reviews: –
Atul Chaturvedi Executive Chairman Mankind witnessed one of the worst traumatic year with a full blown Covid creating havoc all around. India was no exception and we faced the full fury of the Delta Variant which created mayhem in our lives. The worst now seems to be behind us but it’s after effects can be felt across the economy
Mr. Vijendra singh EX Director loose sugar to “Madhur” which is untouched by hand in the entire process of manufacturing and also comes with our 5S guarantee. Our continuous emphasis on safety and hygiene in our audio and visual campaigns helped us gain our consumers’ trust during the pandemic with our constant emphasis on Madhur being a quality driven brand and a brand that resonates with safety and hygiene. We also aggressively scaled up our presence through numerous social media campaigns in the first quarter of FY21, in addition to our presence in print and radio platforms. Moving forward, we further aim to strengthen our business through our association with the e-commerce platforms and increasing the presence of Madhur across the length and breadth of the country
Data Collections: – Data is taken from 01-06-2022 to 31-07-2023. It has been downloaded from the NSE site, then Friday’s closing price was sorted and weekly returns of Nifty (i.e. X) and SHREE RENUKA (i.e. Y) were calculated.
Data Analysis: – Equation “Y=0.2712-0.5475(X)”
(tstat = 1.0791)
n = 50, R2 = 0.0237, F = 1.1644
The above equation shows the relationship between the closing price of Nifty 50 (x) and the closing price of SHREE RENUKA LTD) the negative sign means a negative relationship meaning if “x” rises “y” falls and vice versa. If “x” rises by 1 unit, “y” falls by 0.5475, “n” means there are 50 observations, and figures in brackets are tstat for “b”, so “b” is not as Calculated tstat for b i.e. 1.0791 is lower than tabulated t(t0.5,49DF=1.677) so reject H1 and accept H0. R2 is 0.0237 means 2.37% of y is explained by x. As the calculated value of F =1.1644 is less than the tabulated F (F 0.05,1DF,49DF) = 4.038, the overall model is not statistically significant at the 5% level.
So overall the model is not statistically significant at the 5% level.
Conclusion:
If b<1, SHREE RENUKA share is good for long term investment.
References
https://www.bseindia.com/bseplus/AnnualReport/532670/69435532670.pdf
https://www.bseindia.com/bseplus/AnnualReport/532670/74708532670.pdf