By Saief Chogale
1. INTRODUCTION
• Shree Cement Limited is a leading cement manufacturer in India known for its strong market presence, efficient operations and sustainable manufacturing practices.
• Founded in 1979, the company expanded rapidly across India with several integrated cement plants and crushing units. Shree Cement’s focus on cost leadership, innovation and environmental responsibility has made it an important player in the Indian cement industry.
• A company’s structured manufacturing processes, supply chain management, and market strategies provide a suitable foundation for academic and management research. This research assumes that Shree Cement Limited uses appropriate research methodology tools to analyze its operational performance, market performance, and strategic decisions.
2. OBJECTIVE
To calculate β of Shree Cement Limited and observe its significance.
3. DATA COLLECTION
• Historical data of Shree Cement Limited and NIFTY50 index data (downloaded from NSE website for the period 01-Dec-24 to 30-Nov-2025).
• The data was manipulated to get Friday closing prices.
4. LITERATURE REVIEW
• The existing literature on Shree Cement Limited reflects a multidimensional evaluation of its performance within the Indian cement industry. Sharma and Kanoongo (2022) analyze the firm’s operational efficiency and capacity utilization, while Maneesh (2023) provides a comparative assessment of Shree Cement’s financial performance and strategic positioning relative to competitors. Foundational industry studies by Sathaye (2005) offer macro-level insights into sectoral growth and energy efficiency, which underpin firm-specific analyses of Shree Cement.
5. DATA ANALYSIS
• Regression Equation: –
y = 0.697482x + 0.16908
where: –
y = Weekly Return for Shree Cement Limited
x = Weekly Return for NIFTY
This equation tells us that if weekly returns of NIFTY increases, then weekly return for Shree Cement Limited also increases.
• Number of Observations = 48
• t-stat for β = 3.46017417
• p-value = 0.001175477× 10⁻⁶ This indicates that since p-value < 0.05, β is statistically significant at 1% level.
• R2 = 0.206524511 This indicates that around 20% of the weekly return for Shree Cement Limited is explained by the weekly return for NIFTY. 80% is the error due to the other variables which are not in model.
• F = 11.97280529 The overall model is statistically significant.
6. CONCLUSION
Here β = 0.697481762 Since β < 1, it is good for short-term investment if NIFTY rises.
7. REFERENCES
- Maneesh. (2023). Comparative analysis of Shree Cements and Birla Cements: Performance, strategies, and market position. International Journal of Research in Finance and Management, 6(1), 44–48.