{"id":25091,"date":"2026-03-23T20:07:34","date_gmt":"2026-03-23T14:37:34","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=25091"},"modified":"2026-03-23T20:07:34","modified_gmt":"2026-03-23T14:37:34","slug":"a-study-on-relationship-between-market-returns-nifty-50-and-stock-returns-of-yatra-online-limited-and-its-significance","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=25091","title":{"rendered":"A Study on Relationship between Market Returns (NIFTY 50) and Stock Returns of Yatra Online Limited and its Significance"},"content":{"rendered":"

Title:<\/span><\/b><\/h3>\n

A Study on Relationship between Market Returns (NIFTY 50) and Stock Returns of Yatra Online Limited and its Significance<\/span><\/b><\/p>\n

Author:<\/span><\/b><\/h3>\n

Yash Maismale (27)<\/span><\/p>\n

Introduction:<\/span><\/b><\/h3>\n

Yatra Online Limited is one of India\u2019s leading online travel companies, providing services such as flight bookings, hotel reservations, and holiday packages. It plays a significant role in the digital travel industry and tourism sector. Being listed on the NSE, its stock performance reflects both company growth and overall market trends.<\/span><\/p>\n

Objective:<\/span><\/b><\/h3>\n

Calculation of Beta and observe its Significance<\/span><\/p>\n

Literature Review:<\/span><\/b><\/h3>\n

According to Stephen A. Ross, stock returns are influenced by multiple economic factors and systematic risk plays a key role in determining expected returns. Regression analysis helps in identifying how strongly a stock reacts to market movements.<\/span><\/p>\n

As stated by John Lintner, beta is an important measure of risk that reflects the sensitivity of a stock\u2019s returns to changes in the overall market. It is widely used by investors to assess risk and make investment decisions.<\/span><\/p>\n

Data Collection:<\/span><\/b><\/h3>\n

Data for NIFTY 50 and my company \u201cYatra Online Limited\u201d was downloaded from NSE India.com for the period 1-1-2025 to 31-12-2025 Friday closing prices for NIFTY 50 and my company was segregated weekly and returns were calculated. Weekly returns of NIFTY 50 were taken as X and weekly returns of the company were taken as Y. Y was taken as regress.<\/span><\/p>\n

Data Analysis:<\/span><\/b><\/h3>\n

Regression Equation:<\/span><\/p>\n

N = 48, F = 60.45, p = 0.00, x = 1.10, R\u00b2 = 0.57,<\/span>
<\/span>\u00a0<\/span>Y = 0.0015 + 1.10X<\/b><\/span><\/p>\n

Interpretation:<\/span><\/b><\/h3>\n

The above equation shows the relationship between market return and company return. The positive sign of beta indicates that there is a direct relationship between NIFTY and the stock of Yatra Online Limited, which means if market rises the company return also rises and vice versa.<\/span><\/p>\n

If NIFTY return increases by 1 unit, the return of the company will increase by 1.10 units. Number of observations are 48. The value of \u03b2 (Beta) is 1.10.<\/span><\/p>\n

The p-value is less than 0.05 which means beta is statistically significant at 5% level. R\u00b2 is approximately 0.57 which means 57% of variation in company return is explained by market return and 43% is due to other factors not included in the model.<\/span><\/p>\n

Thus, the model is significant and there is a strong positive relationship between NIFTY and the company\u2019s returns.<\/span><\/p>\n

Conclusion:<\/span><\/b><\/h3>\n

Since beta is greater than 1, it means the stock is more volatile than the market and is suitable for short-term investors when the market is rising.<\/span><\/p>\n

References:<\/span><\/b><\/h3>\n

Ross, S. A. (1976). Arbitrage Pricing Theory.<\/span><\/p>\n

Lintner, J. (1965). The Valuation of Risk Assets.<\/span><\/p>\n

National Stock Exchange of India \u2013 Historical Market Data<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Title: A Study on Relationship between Market Returns (NIFTY 50) and Stock Returns of Yatra Online Limited and its Significance Author: Yash Maismale (27) Introduction: Yatra Online Limited is one of India\u2019s leading online travel companies, providing services such as flight bookings, hotel reservations, and holiday packages. It plays a significant role in the digital… Continue reading A Study on Relationship between Market Returns (NIFTY 50) and Stock Returns of Yatra Online Limited and its Significance<\/span><\/a><\/p>\n","protected":false},"author":140178,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25091","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\/25091","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\/140178"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25091"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/25091\/revisions"}],"predecessor-version":[{"id":25092,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/25091\/revisions\/25092"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25091"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}