Title: Relationship of Adani Green with Nifty50.
Author: Akshat Maheshwari
Intro: Adani Green Energy Limited is a part of the Adani Group, a prominent Indian conglomerate. As a leading renewable energy company, Adani Green is dedicated to developing, operating, and maintaining solar and wind power projects across India. With a commitment to sustainable practices, Adani Green contributes significantly to India’s renewable energy landscape, fostering environmental responsibility and clean energy solutions.
Objective: To calculate Beta and its significance.
Views and Reviews:
Data collection:
Data Analysis:
Equation = Y = 0.023639+1.0276(X)
Interpretation:
The above equation shows the relation between Nifty50 and Adani Green.
Return of Adani Green is dependent variable and return of Nifty50 is independent variable.
Positive sign means if Nifty50 rises by 1 unit then share price of Adani Green will also rise by 1.0276 and vice versa.
Number of observations are 50.
The p-value for which is 5.54.
R square is 0.55 which means 55% of variance in Adani Green are explained by Nifty.
F is 59.83, p-value for this is 5.54 which means model is statistically significant at 1%
Conclusion: Beta is 1.0276, which is more than 1, it means that Adani Green is good for short-term investments.
Reference:
https://nseindia.com