Title: – Relationship of steel strips wheel ltd with Nifty 50
Author: – Sakshi Chavan Division “A” Roll No. 11
Kohinoor Business School, Kurla.
Introduction: – Steel Strip Wheel Ltd is a prominent and innovative company that operates in the automotive industry, specializing in the design, manufacture, and supply of high-quality steel wheels and related components. With a history of excellence and a commitment to technological advancement, Steel Strip Wheel Ltd has established itself as a leading player in the global wheel manufacturing market.
Objective: – To Calculate Beta for steel strips wheel Ltd. and find out its significance.
Views and Reviews: –
Dheeraj Garg, CEO of Steel strips Wheel Ltd, shared his insights on the latest collection, stating, In continuation to our letter dated 11.07.2023 regarding intimation of the Schedule of Analyst/Institutional Investor Meet and pursuant to the provisions of Regulation 30(6) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the conference call with Analysts/Institutional Investors held today i.e. 17th July, 2023 on ‘Q1 FY24 Earnings Conference Call to discuss (Business Today, 2023)
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 (i.e. Y) were calculated.
Data Analysis: – Equation “Y=1.0008-0.9179(X)”
(tstat = 2.5422)
n = 50, R2 = 0.1187, F = 6.4629
The above equation shows the relationship between the closing price of Nifty 50 (x) and the closing price of steel wheel ltd ceramics (Y) 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 0.9179, “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. 2.5422 is higher than tabulated t(t0.5,49DF=1.677) so reject H0 and accept H1. R2 is 0.1187 means 11.87% of y is explained by x. As the calculated value of F =6.4629 is more than the tabulated F (F 0.05,1DF,49DF) = 4.038, the overall model is statistically significant at the 5% level.
So overall the model is statistically significant at the 5% level.
Conclusion:
If b<1, steel strips wheel ltd share is good for long term investment.
Reference:
https://m.economictimes.com/steel-strips-wheels-ltd/stocks_amp/companyid-10667.cms
