{"id":25046,"date":"2026-03-22T22:22:25","date_gmt":"2026-03-22T16:52:25","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=25046"},"modified":"2026-03-22T22:22:25","modified_gmt":"2026-03-22T16:52:25","slug":"relationship-between-nifty-50-and-havells-india-limited","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=25046","title":{"rendered":"Relationship between NIFTY 50 and Havells India Limited"},"content":{"rendered":"

Title<\/span><\/u><\/b>: Relationship between NIFTY 50 and Havells India Limited<\/span><\/b><\/p>\n

Author: Harshala Mahala (87)<\/span><\/p>\n

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Introduction:<\/span><\/b><\/p>\n

Havells India Limited is a leading company in the fast-moving electrical goods (FMEG) sector in India. It manufactures a wide range of electrical and consumer products such as cables, switches, lighting, fans, and home appliances for households, industries, and commercial users. The company is known for its strong brand presence and extensive distribution network across India and international markets. It plays an important role in India\u2019s electrical and consumer durable industry. Its stock performance is influenced by overall market movements such as the NIFTY 50.<\/span><\/p>\n

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Objective:<\/span><\/b><\/p>\n

To calculate beta and observe its significance between NIFTY 50 and <\/span>Havells India Limited.<\/span><\/p>\n

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Literature Review:<\/span><\/b><\/p>\n

CARE Ratings (2023)<\/span><\/b> examined the operational and financial performance of Havells India Limited and found that the company benefits from a diversified product portfolio and strong distribution network. The study highlighted that revenue growth is supported by increasing demand for electrical appliances and infrastructure development in India. However, the company\u2019s stock performance is influenced by macroeconomic factors and overall market trends, indicating linkage with broader indices like the NIFTY 50.<\/span><\/p>\n

ICRA (2023) <\/span><\/b>analyzed the performance of Havells India Limited and highlighted that the company\u2019s growth is driven by strong demand in the fast-moving electrical goods (FMEG) segment, product innovation, and expansion of its distribution network. The study found that the company\u2019s financial performance and stock returns are influenced by consumer demand, input cost fluctuations, and overall market conditions. This indicates that broader market movements play a significant role in determining the company\u2019s stock performance.<\/b><\/span><\/p>\n

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Data Collection:<\/span><\/b><\/p>\n

Data for NIFTY 50 and <\/span>Havells India<\/span> Limited was downloaded from <\/span>nseindia.com. <\/span>For the period 01-01-2025 to 31-12-2025. The data was manipulated to get Friday closing price NIFTY 50 and <\/span>Havells India<\/span> Limited. Weekly returns were calculated. Weekly returns of NIFTY 50 are named as X and weekly returns of <\/span>Havells India<\/span> Limited was named as Y. Y was regressed on X.<\/span><\/p>\n

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Data Analysis:<\/span><\/b><\/p>\n

Equation-<\/span><\/p>\n

N=48, F=<\/span>60.45<\/span>, P-value=<\/span>0.00<\/span>, X=<\/span>0.7714<\/span>, R Square =<\/span>0.57<\/span><\/p>\n

Y=0.4529+0.7714X<\/span><\/b><\/p>\n

Description:<\/span><\/p>\n

The equation above indicates the relationship between Market Return (X) and the return of Havells India<\/span> Limited <\/span>(Y). The R Square value is 0.57<\/b>, which means 57% of the variance<\/b> in the company\u2019s return, is explained by Market Return. The remaining 43%<\/b> is the error due to variables which are not included in the model. The F value is 60.45<\/b>. The p-value of the model (Significance F) is 0.00<\/b>, which is less than 0.05<\/b>, hence the model is statistically significant at 5% level. The p-value of the coefficient is 0.00<\/b>, which is less than 0.05<\/b>, hence the market return has a significant impact on the company\u2019s return. The intercept is 0.45<\/b>, which means if market return is 0, then the return on Havells India<\/span> Limited <\/span>is 0.45%<\/b>.The coefficient of market return (Beta) is 0.77<\/b>, which means for every 1 unit increase in market return, the company\u2019s return increases by 0.77 units<\/b>. The number of observations is 48.<\/b><\/span><\/p>\n

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Conclusion:<\/span><\/b><\/p>\n

Since Beta is less than one invest in Havells India Limited <\/b>for long term.<\/span><\/p>\n

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References:<\/span><\/b><\/p>\n

CARE Ratings (2023). Industry report on electrical equipment sector and company analysis of Havells India Limited<\/i> (p. 4).<\/span><\/p>\n

ICRA (2023). Havells India Limited: Credit rating report<\/i> (p. 3).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Title: Relationship between NIFTY 50 and Havells India Limited Author: Harshala Mahala (87) \u00a0 Introduction: Havells India Limited is a leading company in the fast-moving electrical goods (FMEG) sector in India. It manufactures a wide range of electrical and consumer products such as cables, switches, lighting, fans, and home appliances for households, industries, and commercial… Continue reading Relationship between NIFTY 50 and Havells India Limited<\/span><\/a><\/p>\n","protected":false},"author":140094,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25046","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/25046","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\/140094"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25046"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/25046\/revisions"}],"predecessor-version":[{"id":25047,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/25046\/revisions\/25047"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25046"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}