Relationship of NIFTY 50 with
Tech Mahindra
Author – MD TANBIR MOLLA
Introduction
Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates, and society to Rise for a more equal world, future readiness, and value creation. It is a USD 6.5+ billion organization with 146,000+ professionals across 90 countries helping 1250+ global customers, including Fortune 500 companies. It is focused on leveraging next-generation technologies including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers.
Objective of the study: – To calculate the Beta of Tech Mahindra and its significance.
Views and Reviews: –
Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services & solutions, today announced that it has secured a double ‘A’ leadership ranking in corporate transparency and performance on climate change and water security by CDP, a global non-profit that runs the world’s environmental disclosure system for companies, cities, states, and regions. As the only Indian company to have received the dual ‘A’ score, Tech Mahindra has reaffirmed its commitment to environmental leadership and proactive efforts in addressing global challenges.
Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Tech Mahindra’s consistent recognition on CDP’s ‘A’ list, spanning multiple years and categories, reflects our unwavering dedication to addressing critical global challenges. Our industry-specific focus lies in combating climate change and ensuring water security, both urgent imperatives amid escalating threats to ecosystems, communities, and economies globally. We are taking steps to reduce our environmental impact by implementing sustainable practices, reducing carbon emissions, conserving water, and investing in renewable energy. Our commitment, reflected in these efforts, is a stride towards a sustainable future, symbolizing innovation, collaboration, and a resilient planet for future generations.”
Sherry Madera, CEO of CDP, said, “Congratulations to all the companies on CDP’s A List, and those companies that started or accelerated their journey towards environmental transparency in 2023 – we saw a 24% increase of disclosures last year and that trajectory is to be applauded. It is only by laying the groundwork of disclosure that companies can show they are serious about the vital part they play in securing a net-zero, nature-positive future. Earning a place on the A List is about more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”
Data Collection: –
Historical data has been downloaded from 01/02/2023 to 31/01/2024 from www.nseindia.com, and the weekly returns of NIFTY 50 and Tech Mahindra are calculated from the same.
Y = a + b X
Here Y is the dependent variable (Weekly Returns of Tech Mahindra) and X is the independent variable (Weekly Returns of NIFTY 50)
Tech Mahindra Weekly Returns = y = 6409.801143+11.96997951X(NIFTY 50 Weekly Returns)
The above equation shows the relationship between Weekly Returns of Tech Mahindra and NIFTY 50.
