Report
Title: Relationship Of Apollo hospitals enterprise With Nifty50
Author: Abhishek Parab roll no – 21230023523
Introduction:
Apollo Hospitals was founded by Prathap C. Reddy in 1983 as the first corporate health care in India. The first branch at Chennai was inaugurated by the then President of India Zail Singh.[12]
Apollo developed telemedicine services, after starting a pilot project in 2000 at Aragonda, Prathap Reddy’s home village.[13]
In 2006, Apollo exited its hospital in Colombo called Apollo Hospital Sri Lanka by selling its stake to Sri Lanka Insurance.[14]
In 2007, Apollo Hospitals and DKV AG established a 74:26 joint venture health insurance company called Apollo DKV Insurance Co.[15] The company was rebranded as Apollo Munich Health Insurance in 2009.
Apollo Hospitals Enterprise Limited is an Indian multinational healthcare group headquartered in Chennai. It is the largest hospital chain in India, with a network of 71 owned and managed hospitals.[6][7] Along with the eponymous hospital chain, the company also operates pharmacies, primary care and diagnostic centres, telehealth clinics, and digital healthcare services among others through its subsidiaries.
Objectives:
To Calculate Beta And Find Its Significance.
View And Reviews:
The cornerstones of Apollo’s legacy are its unstinting focus on clinical excellence, affordable costs, modern technology and forward-looking research & academics. Apollo Hospitals was among the first few hospitals in the world to leverage technology to facilitate seamless healthcare delivery. The organization embraced the rapid advancement in medical equipments across the world, and pioneered the introduction of several cutting edge innovations in India. Recently, South East Asia’s first Proton Therapy Centre commenced operations at the Apollo Centre in Chennai.
Since its inception, Apollo Hospitals has been honoured by the trust of over 150 million individuals who came from 140 countries. At the core of Apollo’s patient-centric culture is TLC (Tender Loving Care), the magic that inspires hope amongst its patients.
As a responsible corporate citizen, Apollo Hospitals takes the spirit of leadership well beyond business and has embraced the responsibility of keeping India healthy. Recognizing that Non Communicable Diseases (NCDs) are the greatest threat to the nation, Apollo Hospitals is continuously educating people about preventive healthcare as the key to wellness. Likewise, envisioned by Dr. Prathap C Reddy, the “Billion Hearts Beating Foundation” endeavours to keep Indians heart-healthy.
Data Collection:
Data was downloaded from nseindia.com for 01/11/2022 to 31/10/2023 for Nifty as well as for Apollo Hospital Enterprise . All the columns were deleted for both the sheets except date and closing price and the Friday closing price were found for both of them. Returns for X and Y were calculate, X being Nifty and Y being Apollo .Number of observations is 49. Finally data analysis was done.
Data Analysis:
Equation- Return of Apollo Hospitals
Y(Apollo hospitals) = 0.154299721158274 + 0.874313079866518 * X(NIFTY)
(Return of Nifty 50)
(3.055438688) ( t-stat for b)
R Square = 0.165715606
F = 9.335705576]
The above equation shows the relationship between Nifty 50 and Apollo hospitals enterprise investment company. Return of Apollo hospitals enterprise company is dependent variable and Return of Nifty 50 is independent variable. Positive sign means if Nifty50 increases Apollo also increases. If Nifty50 price rises by 1 unit, Apollo hospital share price will rise by 0.8743 and vice versa. No of observation are 49. Figure which is written in bracket that is (3.055438688) is t- stat for b. The P value for which is 0.003697371 which means Nifty 50 is statistically significant at 95% level. R square 0.16571 is which means 16.5% of variances in Apollo share price are explained by Nifty 50 in other words . F is 9.335705576 . Overall model is statistically significant at 95% level.
Conclusion:
Beta is 0.87431308
which is less than 1, therefore it is good for long term investment.
References:
https://en.wikipedia.org/wiki/Apollo_Hospitals