This document contains a beta calculation for Dabur India Ltd stock returns versus the NSE stock index from January 2011 to December 2011. It provides the monthly stock price and index levels, as well as the calculated weekly stock and market returns. It then shows the calculations to determine beta, which is a measure of the volatility of a stock in comparison to the overall market. The beta of Dabur India Ltd over this period was calculated to be 1.243.

1. BETA CALCULATION
FMCG SECTOR
DABUR INDIA LTD
Weekly Return V/S NSE Stock Index
Jan 1,2011 – Dec 31,2011

2. Month Date Stock NSE Price Stock Market (X)*(Y) X2 Y2
Price Return Return
(X) (Y)
Jan 3 100.60 6157.60 0.000121 0.000961
10 101.45 5782.85 0.008 -0.064 -0.000512 0.000049 0.000625
17 99.20 5654.75 -0.022 -0.018 0.000396 0.000256 0.000841
24 97.85 5743.25 -0.013 0.015 -0.000195 0.000121 0.000676
31 93.70 5505.90 -0.042 -0.041 0.001722 0.000441 0.000081
Feb 7 92.85 5396.00 -0.009 -0.018 0.000162 0.001764 0.000441
14 94.25 5456.00 0.015 0.011 0.000165 0.000064 0.000256
21 96.60 5518.60 0.023 0.011 0.000253 0.000004 0.000121
28 99.75 5333.25 0.031 -0.033 -0.001023 0.000001 0.000064
Mar 7 100.30 5463.15 0.005 0.024 0.00012 0.0001 0.001681
14 97.05 5531.5 -0.032 0.012 -0.000384 0.000009 0.002601
21 96.00 5364.75 -0.011 -0.030 0.0003 0.000576 0.000484
28 95.50 5687.25 -0.005 0.060 -0.0003 0.002809 0.000036
Apr 4 97.05 5908.45 0.016 0.038 0.000608 0.000081 0.000001
11 102.60 5911.5 0.057 0.005 0.000285 0.000016 0.000121

3. Month Date Stock NSE Price Stock Market (X)*(Y) X2 Y2
Price Return Return
(X) (Y)
18 103.75 5729.1 0.011 -0.030 -0.00033 0.000121 0.000961
25 102.95 5847.5 -0.007 0.025 -0.000175 0.000049 0.000625
May 2 101.20 5701.3 -0.016 -0.029 0.000464 0.000256 0.000841
9 102.40 5551.1 0.011 -0.026 -0.000286 0.000121 0.000676
16 100.20 5499 -0.021 -0.009 0.000189 0.000441 0.000081
23 104.45 5386.55 0.042 -0.021 -0.00084 0.001764 0.000441
30 112.95 5473.1 0.008 0.016 0.000128 0.000064 0.000256
Jun 6 113.20 5532.05 0.002 0.010 0.00002 0.000004 0.000121
13 113.10 5482.8 -0.001 -0.008 0.000008 0.000001 0.000064
20 114.30 5257.9 0.010 -0.041 -0.41 0.0001 0.001681
27 113.90 5526.6 -0.003 0.051 -0.000153 0.000009 0.002601
Jul 4 116.70 5650.5 0.024 0.022 0.000528 0.000576 0.000484
11 110.40 5616.1 -0.053 -0.006 0.000318 0.002809 0.000036
18 111.45 5613.55 0.009 -0.001 -0.000009 0.000081 0.000001
25 111.90 5680.3 0.004 0.011 0.000044 0.000016 0.000121

4. Month Date Stock NSE Price Stock Market (X)*(Y) X2 Y2
Price Return Return
(X) (Y)
Aug 1 107.45 5516.8 -0.039 0.028 -0.001092 0.001521 0.000784
8 102.65 5118.5 -0.044 -0.072 0.003168 0.001936 0.005184
15 101.20 5072.95 -0.014 -0.008 0.000112 0.000196 0.000064
22 107.00 4898.8 0.057 -0.034 -0.001938 0.003249 0.001156
29 109.65 5001.0 0.024 0.021 0.00048 0.000576 0.000441
Sep 5 107.80 5017.2 -0.016 0.003 -0.000048 0.000256 0.000009
12 109.25 4946.8 0.013 -0.014 -0.000182 0.000169 0.000196
19 103.75 5013.95 0.053 0.017 0.000901 0.002809 0.000289
26 101.60 4971.15 0.025 -0.012 -0.0003 0.000625 0.000144
Oct 3 103.10 4849.5 -0.018 -0.024 0.000432 0.000324 0.000576
10 99.90 4979.6 0.014 0.026 0.000364 0.000196 0.000676
17 99.45 5118.25 -0.055 0.027 -0.001485 0.003025 0.000729
24 97.60 5191.6 -0.021 0.014 -0.000294 0.000441 0.000196
31 101.30 5326.6 0.015 0.026 0.00039 0.000225 0.000676

5. Month Date Stock NSE Price Stock Market (X)*(Y) X2 Y2
Price Return Return
(X) (Y)
Nov 7 99.80 5292.25 0.038 -0.006 -0.000228 0.001444 0.000036
14 99.95 5148.35 0.199 -0.027 -0.005373 0.039601 0.000729
21 99.00 4778.35 -0.093 -0.071 0.006603 0.008649 0.005041
28 96.05 4851.3 -0.083 0.015 -0.001245 0.006889 0.000225
Dec 5 95.75 5039.15 0.136 0.038 0.005168 0.018496 0.001444
12 96.25 4764.6 -0.122 -0.054 0.006588 0.014884 0.002916
19 96.40 4613.1 0.134 -0.031 -0.004154 0.017956 0.000961
26 100.90 4779 0.238 0.035 0.00833 0.056644 0.001225
Total 0.483 -0.168 0.017304 0.1955 0.047418
Observation 53

6. Beta Calculation
β =n(ΣXY)-(ΣX)(ΣY)
n Σ(X2) – (ΣX)2
= (53*0.017304) – (0.483*-0.168)
(53*0.1955) – (0.483)2
= 0.917112 + 0.081144
1.03615 - 0.233289
= 0.998256
0.802861
= 1.243