Title : Relationship between Canara Bank Ltd Share With Nifty-50<\/p>\n
Author : Chunoti Rane (MMS First Year, Roll No 0222111) Kohinoor Business School, Kurla .<\/p>\n
Introduction :<\/p>\n
Canara Bank is one of the leading public sector banks in India, with a rich history and a strong presence in the banking sector. Established in 1906, the bank has evolved over the years to become a prominent financial institution catering to a wide range of customers, including individuals, businesses, and government entities. Canara Bank is known for its comprehensive array of banking and financial services, including retail banking, corporate banking, treasury operations.<\/p>\n
Objective :<\/p>\n
Calculate BETA of Canara Bank and observe its Siginificance.<\/p>\n
View and Review :<\/p>\n
K. Satyanarayana Raju, the Managing Director and CEO of Canara Bank, said that the launch of the mobile application enabled with UPI interoperability is a revolutionary step towards digitalizing the Indian economy. This will enable customers to enjoy the benefits of fast and secure transactions with digital currency devised by the RBI, he added.<\/p>\n
The Canara Bank Digital Rupee mobile application is available for Android and iOS users, enabling customers to conveniently transact in digital currency.<\/p>\n
Data Collections :<\/p>\n
Data is taken from 01-06-2022 to 31-07-2023. It has been downloaded from the NSE site, then Friday\u2019s closing price was sorted and weekly returns of Nifty (i.e. X) and Canara Bank Ltd (i.e. Y) were calculated.<\/p>\n
Data Analysis :<\/p>\n
Equation – -1.0266+180.74(X)<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(tstat = -0.305)<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 n = 50, R2 0.0019, F = 0.0930<\/p>\n
The above equation shows the relationship between the closing price of Nifty 50 (x) and the closing price of Canara Bank Ltd (y) the negative sign means a negative relationship meaning if \u201cx\u201d rises \u201cy\u201d falls and vice versa. If \u201cx\u201d rises by 1 unit, \u201cy\u201d falls by 180.74, \u201cn\u201d means there are 50 observations, and figures in brackets are tstat for \u201cb\u201d, so \u201cb\u201d is not as Calculated tstat for b i.e. -0.3050 is lower than tabulated t(t0.5,49DF= 2.012) so accept H0 and reject H1. R2 is 0.0019 means 0.1% of y is explained by x. As the calculated value of F =0.0930 is less than the tabulated F (F 0.05,1DF,49DF) = 4.18<\/p>\n
So overall the model is statistically not significant at the 5% level.<\/p>\n
Conclusion<\/p>\n
As B < 1, the share is good for short term<\/p>\n
Reference :<\/p>\n
https:\/\/www.thehindubusinessline.com\/money-and-banking\/canara-bank-introduces-upi-interoperable-digital-rupee-mobile-app\/article67216466.ece<\/p>\n
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Title : Relationship between Canara Bank Ltd Share With Nifty-50 Author : Chunoti Rane (MMS First Year, Roll No 0222111) Kohinoor Business School, Kurla . Introduction : Canara Bank is one of the leading public sector banks in India, with a rich history and a strong presence in the banking sector. Established in 1906, the… Continue reading Relationship between Canara bank Ltd Share With Nifty-50<\/span><\/a><\/p>\n","protected":false},"author":138893,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-18421","post","type-post","status-publish","format-standard","hentry","category-management","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/18421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/138893"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18421"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/18421\/revisions"}],"predecessor-version":[{"id":18422,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/18421\/revisions\/18422"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18421"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}