{"id":21429,"date":"2024-10-10T07:10:21","date_gmt":"2024-10-10T01:40:21","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=21429"},"modified":"2024-10-10T07:10:21","modified_gmt":"2024-10-10T01:40:21","slug":"relationship-of-canara-bank-with-nifty-50","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=21429","title":{"rendered":"Relationship of CANARA BANK With Nifty 50"},"content":{"rendered":"<p><strong>Title :<\/strong> Relationship of CANARA BANK With Nifty 50<\/p>\n<p><strong>Author:<\/strong> Chirag Jain<\/p>\n<p><strong>Introduction:<\/strong> Canara Bank, established in 1906, is a leading public sector bank in India with a diverse portfolio. The bank has a market capitalization of \u20b995,006 crore as of October 2024. Its share price has ranged from \u20b968.42 to \u20b9128.90 in the past 52 weeks, and the current share price is \u20b9104.74. The price-to-earnings (P\/E) ratio is 6.22, and the price-to-book (P\/B) ratio stands at 1.17.Financially, Canara Bank posted a net profit of \u20b914,782 crore for FY2023-24, a 37% increase from the previous year, with a revenue of \u20b91,10,519 crore. The bank&#8217;s return on equity (ROE) is 20.22%, and its return on capital employed (ROCE) is 18.49%. Additionally, it offers a dividend yield of 2.99%, making it an attractive option for income-seeking investor.<\/p>\n<p><strong>Objective:<\/strong> To Find Out Beta of CANARA BANK &amp; its significance<\/p>\n<p><strong>Data Collection:<\/strong> Data for Nifty50 &amp; CANARA BANK was downloaded from NSE website, further period 1<sup>st<\/sup> may 2023 to 31<sup>st<\/sup> april 2024. Data was manipulated to get Friday closing prices &amp; weekly returns were calculated by the Formula: Weekly returns of Ambuja Cement was regressed on weekly returns of Nifty50.<\/p>\n<p><strong>Data Analysis<\/strong>: \u00a0Weekly return of CANARA BANK = -1.009 + (-0.61)*(-1.39)<\/p>\n<p>N = 48, R2 = 0.04, F = 1.95, P-value = 0.16<\/p>\n<p>The above equation shows the relationship between Niffty50 &amp; Canara bank. The negative sign before -0.6150 means if Nifty raises then Canara bank falls &amp; vice versa. The Coefficient of Nifty50 has t stat = (-1.3968) &amp; the P value \u00a0of 0.1691 which is more than 0.05 meaning nifty 50 is not Statistically Significant to Increase the Prices of\u00a0 Canara bank. To increase the prices of Canara bank , R2 is 0.0406 meaning\u00a0 of 4.06% of Canara bank prices explained by Nifty50. 95.96% dependents upon other factors like fundamentals are other factors. F is 1.9512&amp; the P value of 0.1691 this is meaning it is more than 0.05 meaning the overall\u00a0 all model is not statistically significant.<\/p>\n<p><strong>Conclusion :<\/strong> Weekly return of Coefficient is -0.6150 which is negative and less than 1 so avoid this for any investment.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Title : Relationship of CANARA BANK With Nifty 50 Author: Chirag Jain Introduction: Canara Bank, established in 1906, is a leading public sector bank in India with a diverse portfolio. The bank has a market capitalization of \u20b995,006 crore as of October 2024. Its share price has ranged from \u20b968.42 to \u20b9128.90 in the past&hellip; <a class=\"more-link\" href=\"http:\/\/www.sachdevajk.in\/?p=21429\">Continue reading <span class=\"screen-reader-text\">Relationship of CANARA BANK With Nifty 50<\/span><\/a><\/p>\n","protected":false},"author":139578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-21429","post","type-post","status-publish","format-standard","hentry","category-finance","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/21429","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\/139578"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21429"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/21429\/revisions"}],"predecessor-version":[{"id":21430,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/21429\/revisions\/21430"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21429"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}