Title: Relationship of Nahar Capital and Financial Services with Nifty50
Author:– Nishita Rajesh Thapar
Introduction: To Diversify the Nahar Group’s Activities into Financial and Capital Markets, NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED (NCFSL) was incorporated on 31st March, 2006 as Public Limited Company under the Companies Act, 1956 with the object of carrying on Investment Business, which was hived off from NAHAR SPINNING MILLS LIMITED pursuant to the Scheme of Demerger and Arrangement duly approved by Hon’ble Punjab and Haryana High Court, Chandigarh as per Order dated 21st December, 2006.
Objectives: To carry on the business of investment in shares, debentures, stock, bonds and securities of all kinds and other businesses generally carried on by finance and investment companies.
Views & reviews: The Price Trend analysis indicates it is Semi Strong which suggest that the price of Nahar Capital And Financial Services Ltd is likely to Rise-somewhat in the short term.
Data Collection: Data is downloaded from.
https://www.nseindia.com/reports-indices-historical-index-data
https://www.nseindia.com/get-quotes/equity?symbol=NAHARCAP
Data Analysis:
Regression Equation: Return of Vedanta Ltd. =
Y= A + B * X
Y=−0.1483+0.0937X
R Square = 0.001200099
P value =0.800859339
F = 0.800859339
N=48
Interpretation: The above equation shows the relationship between NIFTY 50 and Nahar Capital and Financial Services. The regression analysis indicates that the model, which includes an intercept and one predictor variable (X Variable 1), does not provide a meaningful explanation for the variation in the dependent variable. Both the intercept and the predictor variable have p-values greater than the typical significance level of 0.05, indicating that they are not statistically significant predictors of the dependent variable. Additionally, the low R-squared value suggests that the model does not effectively explain the variability in the dependent variable. Overall, the regression results suggest that the model lacks predictive power and does not provide valuable insights into the relationship between the variables.
Conclusion: Based on the regression analysis between Nifty50 and Nahar Capital:
The analysis indicates that there is no statistically significant relationship between Nifty50 and Nahar Capital. Both the intercept and the coefficient for Nahar Capital’s variable are not statistically significant, with p-values greater than 0.05. Also, the low R-squared value suggests that the variation in Nahar Capital cannot be adequately explained by changes in Nifty50. Therefore, based on this analysis, it appears that there is no meaningful relationship between the performance of Nahar Capital and the broader Nifty50 index.
References: https://www.nseindia.com/reports-indices-historical-index-data
https://www.nseindia.com/get-quotes/equity?symbol=NAHARCAP
http://www.owmnahar.com/nahar_cf/about.php