From THE HINDU group of publications
Sunday, September 10, 2000
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From THE HINDU group of publications Sunday, September 10, 2000 |
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Methodology
Sanjiv Shankaran
THE 50 companies in the S&P CNX Nifty index were used as the sample to test the relationship between a company's net profit and the average share price.
The average share price for the year was arrived at by adding the daily closing price from January to December and dividing the result by the number of days on which trades took place.
Regression analysis was used to test the relationship between net profit and average price. The annual net profit was taken as the independent variable -- that is, it was assumed to influence the average price for the year.
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