Relationship of Sanghvi Movers Ltd with nifty
Author: Soniya Tamse MMS (Roll : 0222058 )
Introduction:
Sanghvi Movers Ltd is a prominent Indian company established in the late 1980s, specializing in crane rental services and heavy lifting solutions. With a diverse fleet of cranes, the company serves industries such as construction, energy, and infrastructure. Safety, expertise, and reliability are likely core aspects of their operations, contributing to a strong market presence in India and potentially beyond.
Objective:
To calculate beta of Sanghvi movers Ltd and observe its significance.
Views and reviews:
Chandrakant P. Sanghvi Chairman
We enhanced capacities at all our units through brownfield expansions. This augmented our capability to increase volumes of existing products as well as add new products in that Plant. For example, we added the water tank manufacturing capability at Tumkur and Sikandrabad. We have doubled our fittings capacity at Dadri. These investments will increase volumes and widen our market base from our diverse product categories.
Data collection:
Data for this Period (1/7/2022 to 30/6/2023) has been downloaded from NSE India Site and Weekly Closing Prices where Found out Then Weekly Returns of Nifty a Weekly Return of Sanghvi movers ltd. were Calculated (Nifty Returns Taken as X and Equity Return Taken As Y) Y Was Regress On X.
Data analysis:
|
Equation Y=-1.4376+0.1490x+e |
(Sanghvi movers ltd =-1.4376+ 0.1490x Nifty 50 + e)
T stat for b = 0.2964
R2 = 0.00182
F= 0.0879
The above equation do not show any relationship between nifty 50 (X) and Sanghvi movers ltd (Y). Sanghvi movers ltd runs on own fundamentals the t stat for b is 0.296494 not statistically significant at 5 % level, R2is 0.001828 which means 0.18% Y is explained by X. 99.81% is the error in model. 0.0879 Which is less than the table value which means overall them model is not statistically significant at 5% level.
Conclusion:
The Beta Of The Sanghvi movers ltd Is < 1 So The Company Is Good For Long Term Investment.