Title: Relationship Of Saregama India limited with Nifty 50
Author: Shubhangee Sarkar
Introduction: Saregama India Ltd., a RP Sanjiv Goenka Group company, is India’s oldest music label, youngest film studio and a multi-language TV content producer.
In 1902, Saregama released India’s first ever studio recorded song. In the years that followed, the company continued to expand its catalogue to become the largest in-perpetuity global owner of both sound recording and publishing copyrights of Indian music across 14 different languages. Steadily, the company expanded its portfolio to include intellectual property rights of over 4000 hours of TV content produced for channels in Hindi, Tamil, Telugu, Kannada, Malayalam and Bengali. Over the last few decades, the company forayed into retailing music through physical and digital mediums such as CDs, iOS & Android based apps and usb based thematic music cards.
Views & Reviews: Since 2017, Saregama has been making headlines again owing to the launch of two unique initiatives, Saregama Carvaan and Yoodlee Films.
Saregama Carvaan is a portable digital music player with in-built stereo speakers that comes with 5000 evergreen Hindi songs inside. The unique proposition of this product is that even today in the times when digital music consumption is the order of the day, Carvaan attempts to give the older generation a lean-back, uncomplicated ala70s Vividh Bharti music listening experience. Carvaan is a perfect blend of digital technology a retro form factor. In less than a year, from launch its unprecedented sales have made it Saregama’s flagship product.
Data collection: Data is downloaded from https://www.nseindia.com/national-stock-exchange/about-nse-company for 1-12-2022 to 30-11-2023 period.
Regression Equation: Y= =−8.090369694+0.014863429⋅X1
Interpretation: The intercept (0β0) is -8.09, representing the estimated value of the dependent variable (Y) when 1X1 is zero, though this may not be practically meaningful. The coefficient for 1X1 (1β1) is 0.0149, indicating that for each unit increase in 1X1, Y is predicted to increase by approximately 0.0149.The high t-statistic (9.36) and low P-value (3.23E-12) for 1X1 signify its statistical significance in influencing Y. The multiple R (0.81) indicates a strong correlation between observed and predicted Y values. The R Square (0.66) suggests that around 66% of the variability in Y is explained by the linear relationship with 1X1. The Adjusted R Square (0.65) accounts for the number of predictors, offering a slightly conservative estimate of explained variability. The standard error (29.74) is the typical error in predictions, providing a measure of model accuracy.The ANOVA results with a significant F-statistic (87.55) and low significance F (3.23E-12) indicate the model’s overall statistical significance.The 95% confidence interval for 1β1 (0.0117 to 0.0181) provides a range within which the true population parameter is likely to fall.
Conclusion: Beta is 0.014863 which is less than 1 it means Saregama India Ltd. is good for long term investment.
References: https://www.saregama.com/static/about-us
https://www.nseindia.com/reports-indices-historical-index-data