Introduction: – Olectra Greentech Ltd. is an Indian company that specializes in electric mobility solutions. Established in 2000, it focuses on manufacturing electric buses, electric vehicle (EV) charging infrastructure, and related technologies. Olectra Greentech aims to contribute to sustainable transportation and reduce the environmental impact of traditional fossil-fuel vehicles. The company’s efforts align with the growing global interest in electric vehicles and clean energy solutions.
Objective: – To Calculate the Beta of Olectra Greentech Ltd. and find out its significance.
Views and Reviews: – The Board of Directors of Olectra Greentech Limited (OGL) at their meeting held here on Thursday, appointed Mr Venkateswara Pradeep Karumuru (Mr K V Pradeep) a Non-Executive Director of the Company as Managing Director of the Company.
Commenting on the new appointment, Mr. KV Pradeep said, ” I feel proud and happy to lead the fastest growing electric bus company in the country. I will continue the growth trajectory to the new leaps. As more and more countries adopting emission-free transportation means, we take part in introducing the most advanced and eco-friendly electric buses in the country.”
“As far as we are concerned, we have a strong product line-up, and we completed more than 12 crore kilometers on Indian roads with the delivery of more than 1,250 buses. Also, our technology is proven with which we are able to basically gain the customer confidence and meet the customer requirements,” Sharat Chandra, Chief Financial Officer, OGL, told investors.
Data Collections: – Data is taken from 01-07-2022 to 30-06-2023. It has been downloaded from the NSE site, then Friday’s closing price was sorted and weekly returns of Nifty (i.e. X) and Olectra Greentech Ltd. (i.e. Y) were calculated.
Data Analysis: – Equation “Y=0.1768-0.0007(X)”
(tstat = 0.0227)
n = 50, R2 = 1.08E-05, F = 0.00052
The above equation shows the relationship between the closing price of Nifty 50 (x) and the closing price of Olectra Greentech Ltd. (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 0.007, “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. 0.027 is higher than tabulated t(t0.5,49DF=1.677) so reject H0 and accept H1. R2 is 1.08E-05 means 1.87% of y is explained by x. As the calculated value of F = 0.00052 is more than the tabulated F (F 0.05,1DF,49DF) = 0.00038, the overall model is statistiConclusioncally significant at the 5% level.
So overall the model is statistically significant at the 5% level.
Conclusion:
If b<1, Olectra Greentech Ltd. share is good for long term investmen.
References
https://www.thehansindia.com/business/olectra-greentech-limited-board-appoints-k-v-pradeep-as-managing-director-698740