In this report we talk about NSE, its objective and its products. Then about indices of NSE. Then calculation of daily return of Nifty50 and Wipro Limited. From daily return we calculated variance, standard deviation and beta of Wipro Limited and Nifty50.

1. Project Report on
Risk and Return
Analysis of Nifty50 and
Wipro Limited
Centurion University of Technology and Management,
Bhubaneswar
Name – Manpreet Nayak
Regd No. 200409120061
Branch - BBA 4th
Sem
Subject - Financial Management

2. 1. National Stock Exchange of India
National Stock Exchange of India Limited (NSE) is the leading stock exchange of India,
located in Mumbai, Maharashtra. It is the world’s largest derivatives exchange in 2021 by number of
contracts traded based on the statistics maintained by Futures Industry Association (FIA), a
derivatives trade body. NSE is ranked 4th in the world in cash equities by number of trades as per the
statistics maintained by the World Federation of Exchanges (WFE) for the calendar year 2021. It is
under the ownership of some leading financial institutions, banks, and insurance companies. NSE
was established in 1992 as the first dematerialized electronic exchange in the country. NSE was the
first exchange in the country to provide a modern, fully automated screen-based electronic trading
system that offered easy trading facilities to investors spread across the length and breadth of the
country. In 1994, with trading on the wholesale debt market segment. Subsequently, it launched the
capital market segment in November 1994 as a trading platform for equities and the futures and
options segment in June 2000 for various derivative instruments.
2. Objectives of NSE:
1. Establishing a nationwide trading for all types of Securities.
2. Ensuring equal access to investors all over the country through an appropriate communication
network.
3. Providing a fair, efficient and transparent securities market using electronic trading system.
4. Enabling shorter settlement cycles and book entry settlements.
5. Meeting international benchmarks and standards.
3. Products of NSE:
1. Equities - The Equities section provides with an insight into the equities segment of NSE
with Current Market Reports, Historical Data and Product Information.
2. Derivatives - The Derivatives section provides with an insight into the derivatives segment of
NSE with Current Market Reports, Historical Data and Product Information.
3. Fixed Income & Debt - The Debt section provides you with an insight into the debt segment
of NSE with Current Market Reports, Historical Data and Product Information.

3. 4. Indices of NSE
Nifty 50
The NIFTY 50 is a diversified 50 stock index accounting for 13 sectors of the economy. It is
used for a variety of purposes such as benchmarking fund portfolios, index-based derivatives and
index funds.
NIFTY 50 is owned and managed by NSE Indices Limited (formerly known as India Index
Services & Products Limited) (NSE Indices). NSE Indices is India's specialised company focused
upon the index as a core product.
 The NIFTY 50 Index represents about 66.8% of the free float market capitalization of the
stocks listed on NSE as on March 29, 2019.
 The total traded value of NIFTY 50 index constituents for the last six months ending March
2019 is approximately 53.4% of the traded value of all stocks on the NSE.
 Impact cost of the NIFTY 50 for a portfolio size of Rs.50 lakhs is 0.02% for the month March
2019.
 NIFTY 50 is ideal for derivatives trading.
Table 1.Nifty 50 Companies List and its Weightage
(31st March 2022) Sector Wise
Sl. No. Company Name NSE Symbol Industry Weight-
age (%)
1 Reliance Industries Ltd. RELIANCE OIL & GAS 11.89%
2 Infosys Ltd. INFY IT 9.13%
3 HDFC Bank Ltd. HDFCBANK
FINANCIAL
SERVICES 8.43%
4 ICICI Bank Ltd. ICICIBANK
FINANCIAL
SERVICES 6.64%
5
Housing Development Finance
Corporation Ltd. HDFC
FINANCIAL
SERVICES 5.66%
6 Tata Consultancy Services Ltd. TCS IT 5.07%
7 Kotak Mahindra Bank Ltd. KOTAKBANK
FINANCIAL
SERVICES 3.37%
8 ITC Ltd. ITC FMCG 2.87%
9 Larsen & Toubro Ltd. LT CONSTRUCTION 2.79%

4. 10 AXIS Bank Ltd. AXISBANK
FINANCIAL
SERVICES 2.63%
11 Bajaj Finance Ltd. BAJFINANCE
FINANCIAL
SERVICES 2.53%
12 State Bank Of India SBIN
FINANCIAL
SERVICES 2.48%
13 Hindustan Unilever Ltd. HINDUNILVR FMCG 2.39%
14 Bharti Airtel Ltd. BHARTIARTL TELECOM 2.33%
15 Asian Paints ASIANPAINT
CONSUMER
DURABLES 1.82%
16 HCL Technologies Ltd. HCLTECH IT 1.61%
17 Titan TITAN
CONSUMER
DURABLES 1.38%
18 Tata Steel Ltd. TATASTEEL METALS & MINING 1.38%
19 Bajaj Finserv Ltd. BAJAJFINSV
FINANCIAL
SERVICES 1.35%
20 Maruti Suzuki India Ltd. MARUTI
AUTOMOBILE &
AUTO
COMPONENTS 1.31%
21
Sun Pharmaceutical Industries
Ltd. SUNPHARMA HEALTHCARE 1.29%
22 Tech Mahindra Ltd. TECHM IT 1.22%
23 Wipro Ltd. WIPRO IT 1.15%
24 Hindalco Industries Ltd. HINDALCO METALS & MINING 1.09%
25 Tata Motors Ltd. TATAMOTORS
AUTOMOBILE &
AUTO
COMPONENTS 1.02%
26 Mahindra & Mahindra Ltd. M&M
AUTOMOBILE &
AUTO
COMPONENTS 1.01%
27 UltraTech Cement Ltd. ULTRACEMCO
CONSTRUCTION
MATERIALS 1.00%
28
Power Grid Corporation of
India Ltd. POWERGRID POWER 0.97%
29 JSW Steel Ltd. JSWSTEEL METALS & MINING 0.93%
30 NTPC Ltd. NTPC POWER 0.84%
31 Grasim Industries Ltd. GRASIM
CONSTRUCTION
MATERIALS 0.82%
32 Nestle India Ltd. NESTLEIND FMCG 0.81%
33 IndusInd Bank Ltd. INDUSINDBK
FINANCIAL
SERVICES 0.80%
34
Oil And Natural Gas
Corporation Ltd. ONGC OIL & GAS 0.78%
35 Divi’s Laboratories Ltd. DIVISLAB HEALTHCARE 0.73%
36
Adani Port and Special
Economic Zone Ltd. ADANIPORTS SERVICES 0.73%
37 Cipla Ltd. CIPLA HEALTHCARE 0.69%

5. 38 Dr. Reddy’s Laboratories Ltd. DRREDDY HEALTHCARE 0.68%
39 HDFC Life Insurance Co. HDFCLIFE
FINANCIAL
SERVICES 0.65%
40 SBI Life Insurance Co. SBILIFE
FINANCIAL
SERVICES 0.65%
41 Bajaj Auto Ltd. BAJAJ-AUTO
AUTOMOBILE &
AUTO
COMPONENTS 0.62%
42 Tata Consumer Products Ltd. TATACONSUM FMCG 0.61%
43 Appolo Hospital APPOLOHOSP HEALTHCARE 0.60%
44 UPL Ltd. UPL CHEMICALS 0.55%
45 Britannia Industries Ltd. BRITANNIA FMCG 0.50%
46 Coal India Ltd COALINDIA OIL & GAS 0.50%
47 Eicher Motors Ltd. EICHERMOT
AUTOMOBILE &
AUTO
COMPONENTS 0.45%
48 Bharat Petroleum Corp. Ltd. BPCL OIL & GAS 0.45%
49 Shree Cement Ltd. SHREECEM
CONSTRUCTION
MATERIALS 0.42%
50 Hero MotoCorp Ltd. HEROMOTOCO
AUTOMOBILE &
AUTO
COMPONENTS 0.39%
1. Nifty Next 50
The NIFTY Next 50 Index represents 50 companies from NIFTY 100 after excluding the
NIFTY 50 companies.
 The NIFTY Next 50 Index represents about 10% of the free float market capitalization of the
stocks listed on NSE as on March 29, 2019.
 The total traded value for the last six months March 2019 of all index constituents is
approximately 12.7% of the traded value of all stocks on NSE.
 Impact cost for NIFTY Next 50 for a portfolio size of Rs.25 lakhs is 0.04% for the month
March 2019.
2. Nifty Next 100
NIFTY 100 is a diversified 100 stock index representing major sectors of the economy. NIFTY
100 represents top 100 companies based on full market capitalisation from NIFTY 500. This index
intends to measure the performance of large market capitalisation companies. The NIFTY 100 tracks
the behaviour of combined portfolio of two indices viz. NIFTY 50 and NIFTY Next 50

6. NIFTY 100 is owned and managed by NSE Indices Limited (formerly known as India Index
Services & Products Limited) (NSE Indices). NSE Indices is India’s specialized company focused
upon the index as a core product.
 The NIFTY 100 Index represents about 76.8% of the free float market capitalization of the
stocks listed on NSE as on March 29, 2019.
 The total traded value for the last six months ending March 2019 of all index constituents is
approximately 66.2% of the traded value of all stocks on the NSE.
Wipro
Wipro Ltd. is a global information technology, consulting and outsourcing company, which
engages in the development and integration of solutions. It operates through the Information
Technology Services and Information Technology Products segments. The Information Technology
Services segment provides IT and IT-enabled services which include IT consulting, custom
application design, development, re-engineering and maintenance, systems integration, package
implementation, global infrastructure services, BPO services, cloud, mobility and analytics services,
research and development and hardware and software design. The Information Technology Products
segment provides a range of third-party IT products, which allows to provide comprehensive IT
system integration services. The company was founded on December 29, 1945 and is headquartered
in Bangalore, India.
Table 2. Shareholding Pattern - Wipro Limited
Promoters 73%
Foreign Institutional Investors 9%
Non-Institutions (Retail) 6%
Other Public Shareholding 6%
Overseas Depositories 3%
Domestic Institutional Investors 3%
Shares held by Employees Trusts 0.29%

7. Here we have taken Daily Return (%) of Nifty50 as X and Daily Return (%) of Wipro Limited as Y.
Table 3. Daily Return (%) of Nifty50 and Wipro (1 April 2021 - 31 March 2022)
Date Close Daily
Return(%) of
Nifty50
Date Close Price Daily Return
(%) WIPRO
(Y)
01-Apr-21 14867.35 01-Apr-21 416.4
05-Apr-21 14637.8 -1.54% 05-Apr-21 425.45 2.17%
06-Apr-21 14683.5 0.31% 06-Apr-21 427.15 0.40%
07-Apr-21 14819.05 0.92% 07-Apr-21 438 2.54%
08-Apr-21 14873.8 0.37% 08-Apr-21 442.1 0.94%
09-Apr-21 14834.85 -0.26% 09-Apr-21 450.1 1.81%
12-Apr-21 14310.8 -3.53% 12-Apr-21 432.6 -3.89%
13-Apr-21 14504.8 1.36% 13-Apr-21 418.95 -3.16%
15-Apr-21 14581.45 0.53% 15-Apr-21 430.7 2.80%
16-Apr-21 14617.85 0.25% 16-Apr-21 469.2 8.94%
19-Apr-21 14359.45 -1.77% 19-Apr-21 472.75 0.76%
20-Apr-21 14296.4 -0.44% 20-Apr-21 470.1 -0.56%
22-Apr-21 14406.15 0.77% 22-Apr-21 486.65 3.52%
23-Apr-21 14341.35 -0.45% 23-Apr-21 475.7 -2.25%
26-Apr-21 14485 1.00% 26-Apr-21 480.3 0.97%
27-Apr-21 14653.05 1.16% 27-Apr-21 485.05 0.99%
28-Apr-21 14864.55 1.44% 28-Apr-21 489.3 0.88%
29-Apr-21 14894.9 0.20% 29-Apr-21 489.85 0.11%
30-Apr-21 14631.1 -1.77% 30-Apr-21 492.75 0.59%
03-May-21 14634.15 0.02% 03-May-21 487.35 -1.10%
04-May-21 14496.5 -0.94% 04-May-21 481.95 -1.11%
05-May-21 14617.85 0.84% 05-May-21 490.6 1.79%
06-May-21 14724.8 0.73% 06-May-21 512.3 4.42%
07-May-21 14823.15 0.67% 07-May-21 515.25 0.58%
10-May-21 14942.35 0.80% 10-May-21 525.95 2.08%
11-May-21 14850.75 -0.61% 11-May-21 518.4 -1.44%

8. 12-May-21 14696.5 -1.04% 12-May-21 507.6 -2.08%
14-May-21 14677.8 -0.13% 14-May-21 498.45 -1.80%
17-May-21 14923.15 1.67% 17-May-21 499.8 0.27%
18-May-21 15108.1 1.24% 18-May-21 508.05 1.65%
19-May-21 15030.15 -0.52% 19-May-21 511.65 0.71%
20-May-21 14906.05 -0.83% 20-May-21 508.25 -0.66%
21-May-21 15175.3 1.81% 21-May-21 512.7 0.88%
24-May-21 15197.7 0.15% 24-May-21 514.9 0.43%
25-May-21 15208.45 0.07% 25-May-21 517.55 0.51%
26-May-21 15301.45 0.61% 26-May-21 527.25 1.87%
27-May-21 15337.85 0.24% 27-May-21 540.9 2.59%
28-May-21 15435.65 0.64% 28-May-21 538.7 -0.41%
31-May-21 15582.8 0.95% 31-May-21 539.05 0.06%
01-Jun-21 15574.85 -0.05% 01-Jun-21 542.8 0.70%
02-Jun-21 15576.2 0.01% 02-Jun-21 543 0.04%
03-Jun-21 15690.35 0.73% 03-Jun-21 539.05 -0.73%
04-Jun-21 15670.25 -0.13% 04-Jun-21 541.2 0.40%
07-Jun-21 15751.65 0.52% 07-Jun-21 548.25 1.30%
08-Jun-21 15740.1 -0.07% 08-Jun-21 550.6 0.43%
09-Jun-21 15635.35 -0.67% 09-Jun-21 544.2 -1.16%
10-Jun-21 15737.75 0.65% 10-Jun-21 554.25 1.85%
11-Jun-21 15799.35 0.39% 11-Jun-21 554.3 0.01%
14-Jun-21 15811.85 0.08% 14-Jun-21 561.6 1.32%
15-Jun-21 15869.25 0.36% 15-Jun-21 557.9 -0.66%
16-Jun-21 15767.55 -0.64% 16-Jun-21 555.25 -0.47%
17-Jun-21 15691.4 -0.48% 17-Jun-21 558.7 0.62%
18-Jun-21 15683.35 -0.05% 18-Jun-21 549.8 -1.59%
21-Jun-21 15746.5 0.40% 21-Jun-21 542.15 -1.39%
22-Jun-21 15772.75 0.17% 22-Jun-21 556.55 2.66%
23-Jun-21 15686.95 -0.54% 23-Jun-21 540.15 -2.95%

9. 24-Jun-21 15790.45 0.66% 24-Jun-21 549.05 1.65%
25-Jun-21 15860.35 0.44% 25-Jun-21 547.5 -0.28%
28-Jun-21 15814.7 -0.29% 28-Jun-21 547.4 -0.02%
29-Jun-21 15748.45 -0.42% 29-Jun-21 542.6 -0.88%
30-Jun-21 15721.5 -0.17% 30-Jun-21 545.65 0.56%
01-Jul-21 15680 -0.26% 01-Jul-21 539.35 -1.15%
02-Jul-21 15722.2 0.27% 02-Jul-21 538.6 -0.14%
05-Jul-21 15834.35 0.71% 05-Jul-21 536.35 -0.42%
06-Jul-21 15818.25 -0.10% 06-Jul-21 532.6 -0.70%
07-Jul-21 15879.65 0.39% 07-Jul-21 532.15 -0.08%
08-Jul-21 15727.9 -0.96% 08-Jul-21 531 -0.22%
09-Jul-21 15689.8 -0.24% 09-Jul-21 525.8 -0.98%
12-Jul-21 15692.6 0.02% 12-Jul-21 525.85 0.01%
13-Jul-21 15812.35 0.76% 13-Jul-21 524.85 -0.19%
14-Jul-21 15853.95 0.26% 14-Jul-21 561.7 7.02%
15-Jul-21 15924.2 0.44% 15-Jul-21 575.9 2.53%
16-Jul-21 15923.4 -0.01% 16-Jul-21 577.75 0.32%
19-Jul-21 15752.4 -1.07% 19-Jul-21 573.8 -0.68%
20-Jul-21 15632.1 -0.76% 20-Jul-21 568.1 -0.99%
22-Jul-21 15824.05 1.23% 22-Jul-21 584.2 2.83%
23-Jul-21 15856.05 0.20% 23-Jul-21 599.15 2.56%
26-Jul-21 15824.45 -0.20% 26-Jul-21 590.45 -1.45%
27-Jul-21 15746.45 -0.49% 27-Jul-21 591.45 0.17%
28-Jul-21 15709.4 -0.24% 28-Jul-21 591.95 0.08%
29-Jul-21 15778.45 0.44% 29-Jul-21 590.45 -0.25%
30-Jul-21 15763.05 -0.10% 30-Jul-21 587.15 -0.56%
02-Aug-21 15885.15 0.77% 02-Aug-21 592.25 0.87%
03-Aug-21 16130.75 1.55% 03-Aug-21 599.4 1.21%
04-Aug-21 16258.8 0.79% 04-Aug-21 596.8 -0.43%
05-Aug-21 16294.6 0.22% 05-Aug-21 600.9 0.69%

10. 06-Aug-21 16238.2 -0.35% 06-Aug-21 598 -0.48%
09-Aug-21 16258.25 0.12% 09-Aug-21 596.8 -0.20%
10-Aug-21 16280.1 0.13% 10-Aug-21 603.85 1.18%
11-Aug-21 16282.25 0.01% 11-Aug-21 601.25 -0.43%
12-Aug-21 16364.4 0.50% 12-Aug-21 605.85 0.77%
13-Aug-21 16529.1 1.01% 13-Aug-21 615.5 1.59%
16-Aug-21 16563.05 0.21% 16-Aug-21 614.05 -0.24%
17-Aug-21 16614.6 0.31% 17-Aug-21 634.9 3.40%
18-Aug-21 16568.85 -0.28% 18-Aug-21 629.4 -0.87%
20-Aug-21 16450.5 -0.71% 20-Aug-21 620.05 -1.49%
23-Aug-21 16496.45 0.28% 23-Aug-21 628.85 1.42%
24-Aug-21 16624.6 0.78% 24-Aug-21 633.55 0.75%
25-Aug-21 16634.65 0.06% 25-Aug-21 631.65 -0.30%
26-Aug-21 16636.9 0.01% 26-Aug-21 628.95 -0.43%
27-Aug-21 16705.2 0.41% 27-Aug-21 634.95 0.95%
30-Aug-21 16931.05 1.35% 30-Aug-21 632.45 -0.39%
31-Aug-21 17132.2 1.19% 31-Aug-21 640.95 1.34%
01-Sep-21 17076.25 -0.33% 01-Sep-21 642.05 0.17%
02-Sep-21 17234.15 0.92% 02-Sep-21 651.45 1.46%
03-Sep-21 17323.6 0.52% 03-Sep-21 655.1 0.56%
06-Sep-21 17377.8 0.31% 06-Sep-21 686.45 4.79%
07-Sep-21 17362.1 -0.09% 07-Sep-21 674.25 -1.78%
08-Sep-21 17353.5 -0.05% 08-Sep-21 662.2 -1.79%
09-Sep-21 17369.25 0.09% 09-Sep-21 662.35 0.02%
13-Sep-21 17355.3 -0.08% 13-Sep-21 670.75 1.27%
14-Sep-21 17380 0.14% 14-Sep-21 673.45 0.40%
15-Sep-21 17519.45 0.80% 15-Sep-21 674.05 0.09%
16-Sep-21 17629.5 0.63% 16-Sep-21 667.85 -0.92%
17-Sep-21 17585.15 -0.25% 17-Sep-21 665.25 -0.39%
20-Sep-21 17396.9 -1.07% 20-Sep-21 662.5 -0.41%

11. 21-Sep-21 17562 0.95% 21-Sep-21 667.6 0.77%
22-Sep-21 17546.65 -0.09% 22-Sep-21 668.15 0.08%
23-Sep-21 17822.95 1.57% 23-Sep-21 674.3 0.92%
24-Sep-21 17853.2 0.17% 24-Sep-21 676.5 0.33%
27-Sep-21 17855.1 0.01% 27-Sep-21 653.9 -3.34%
28-Sep-21 17748.6 -0.60% 28-Sep-21 639.6 -2.19%
29-Sep-21 17711.3 -0.21% 29-Sep-21 640.75 0.18%
30-Sep-21 17618.15 -0.53% 30-Sep-21 634.1 -1.04%
01-Oct-21 17532.05 -0.49% 01-Oct-21 636.25 0.34%
04-Oct-21 17691.25 0.91% 04-Oct-21 641.05 0.75%
05-Oct-21 17822.3 0.74% 05-Oct-21 646.85 0.90%
06-Oct-21 17646 -0.99% 06-Oct-21 635.75 -1.72%
07-Oct-21 17790.35 0.82% 07-Oct-21 642.95 1.13%
08-Oct-21 17895.2 0.59% 08-Oct-21 661.15 2.83%
11-Oct-21 17945.95 0.28% 11-Oct-21 652.8 -1.26%
12-Oct-21 17991.95 0.26% 12-Oct-21 659.1 0.97%
13-Oct-21 18161.75 0.94% 13-Oct-21 672.6 2.05%
14-Oct-21 18338.55 0.97% 14-Oct-21 708.25 5.30%
18-Oct-21 18477.05 0.76% 18-Oct-21 709.75 0.21%
19-Oct-21 18418.75 -0.32% 19-Oct-21 711.55 0.25%
20-Oct-21 18266.6 -0.83% 20-Oct-21 701.95 -1.35%
21-Oct-21 18178.1 -0.48% 21-Oct-21 696.3 -0.80%
22-Oct-21 18114.9 -0.35% 22-Oct-21 682.4 -2.00%
25-Oct-21 18125.4 0.06% 25-Oct-21 667.7 -2.15%
26-Oct-21 18268.4 0.79% 26-Oct-21 668.15 0.07%
27-Oct-21 18210.95 -0.31% 27-Oct-21 671.1 0.44%
28-Oct-21 17857.25 -1.94% 28-Oct-21 656.9 -2.12%
29-Oct-21 17671.65 -1.04% 29-Oct-21 646.75 -1.55%
01-Nov-21 17929.65 1.46% 01-Nov-21 655.45 1.35%
02-Nov-21 17888.95 -0.23% 02-Nov-21 653.8 -0.25%

12. 03-Nov-21 17829.2 -0.33% 03-Nov-21 652.5 -0.20%
04-Nov-21 17916.8 0.49% 04-Nov-21 653.7 0.18%
08-Nov-21 18068.55 0.85% 08-Nov-21 658.35 0.71%
09-Nov-21 18044.25 -0.13% 09-Nov-21 658.45 0.02%
10-Nov-21 18017.2 -0.15% 10-Nov-21 652.6 -0.89%
11-Nov-21 17873.6 -0.80% 11-Nov-21 641.8 -1.65%
12-Nov-21 18102.75 1.28% 12-Nov-21 660.05 2.84%
15-Nov-21 18109.45 0.04% 15-Nov-21 658.9 -0.17%
16-Nov-21 17999.2 -0.61% 16-Nov-21 661.45 0.39%
17-Nov-21 17898.65 -0.56% 17-Nov-21 661.8 0.05%
18-Nov-21 17764.8 -0.75% 18-Nov-21 651.45 -1.56%
22-Nov-21 17416.55 -1.96% 22-Nov-21 644.05 -1.14%
23-Nov-21 17503.35 0.50% 23-Nov-21 642.8 -0.19%
24-Nov-21 17415.05 -0.50% 24-Nov-21 636.5 -0.98%
25-Nov-21 17536.25 0.70% 25-Nov-21 636.7 0.03%
26-Nov-21 17026.45 -2.91% 26-Nov-21 621.45 -2.40%
29-Nov-21 17053.95 0.16% 29-Nov-21 630.6 1.47%
30-Nov-21 16983.2 -0.41% 30-Nov-21 637.25 1.05%
01-Dec-21 17166.9 1.08% 01-Dec-21 634.8 -0.38%
02-Dec-21 17401.65 1.37% 02-Dec-21 646.8 1.89%
03-Dec-21 17196.7 -1.18% 03-Dec-21 640.75 -0.94%
06-Dec-21 16912.25 -1.65% 06-Dec-21 624.5 -2.54%
07-Dec-21 17176.7 1.56% 07-Dec-21 632.4 1.27%
08-Dec-21 17469.75 1.71% 08-Dec-21 641.7 1.47%
09-Dec-21 17516.85 0.27% 09-Dec-21 643.2 0.23%
10-Dec-21 17511.3 -0.03% 10-Dec-21 638.25 -0.77%
13-Dec-21 17368.25 -0.82% 13-Dec-21 645.4 1.12%
14-Dec-21 17324.9 -0.25% 14-Dec-21 646.9 0.23%
15-Dec-21 17221.4 -0.60% 15-Dec-21 636.4 -1.62%
16-Dec-21 17248.4 0.16% 16-Dec-21 644.3 1.24%

13. 17-Dec-21 16985.2 -1.53% 17-Dec-21 670.8 4.11%
20-Dec-21 16614.2 -2.18% 20-Dec-21 665.95 -0.72%
21-Dec-21 16770.85 0.94% 21-Dec-21 690.8 3.73%
22-Dec-21 16955.45 1.10% 22-Dec-21 685.65 -0.75%
23-Dec-21 17072.6 0.69% 23-Dec-21 694.55 1.30%
24-Dec-21 17003.75 -0.40% 24-Dec-21 698.45 0.56%
27-Dec-21 17086.25 0.49% 27-Dec-21 699.6 0.16%
28-Dec-21 17233.25 0.86% 28-Dec-21 705.45 0.84%
29-Dec-21 17213.6 -0.11% 29-Dec-21 703.7 -0.25%
30-Dec-21 17203.95 -0.06% 30-Dec-21 714.1 1.48%
31-Dec-21 17354.05 0.87% 31-Dec-21 715.35 0.18%
03-Jan-22 17625.7 1.57% 03-Jan-22 718.7 0.47%
04-Jan-22 17805.25 1.02% 04-Jan-22 721.5 0.39%
05-Jan-22 17925.25 0.67% 05-Jan-22 713.5 -1.11%
06-Jan-22 17745.9 -1.00% 06-Jan-22 705.75 -1.09%
07-Jan-22 17812.7 0.38% 07-Jan-22 711.5 0.81%
10-Jan-22 18003.3 1.07% 10-Jan-22 693.5 -2.53%
11-Jan-22 18055.75 0.29% 11-Jan-22 694.15 0.09%
12-Jan-22 18212.35 0.87% 12-Jan-22 691.35 -0.40%
13-Jan-22 18257.8 0.25% 13-Jan-22 649.75 -6.02%
14-Jan-22 18255.75 -0.01% 14-Jan-22 639.8 -1.53%
17-Jan-22 18308.1 0.29% 17-Jan-22 646.65 1.07%
18-Jan-22 18113.05 -1.07% 18-Jan-22 633.3 -2.06%
19-Jan-22 17938.4 -0.96% 19-Jan-22 621.15 -1.92%
20-Jan-22 17757 -1.01% 20-Jan-22 615.2 -0.96%
21-Jan-22 17617.15 -0.79% 21-Jan-22 605.05 -1.65%
24-Jan-22 17149.1 -2.66% 24-Jan-22 572.75 -5.34%
25-Jan-22 17277.95 0.75% 25-Jan-22 562.7 -1.75%
27-Jan-22 17110.15 -0.97% 27-Jan-22 544.75 -3.19%
28-Jan-22 17101.95 -0.05% 28-Jan-22 552.15 1.36%

14. 31-Jan-22 17339.85 1.39% 31-Jan-22 572.6 3.70%
01-Feb-22 17576.85 1.37% 01-Feb-22 576.65 0.71%
02-Feb-22 17780 1.16% 02-Feb-22 588 1.97%
03-Feb-22 17560.2 -1.24% 03-Feb-22 578.25 -1.66%
04-Feb-22 17516.3 -0.25% 04-Feb-22 571.75 -1.12%
07-Feb-22 17213.6 -1.73% 07-Feb-22 557 -2.58%
08-Feb-22 17266.75 0.31% 08-Feb-22 560.25 0.58%
09-Feb-22 17463.8 1.14% 09-Feb-22 568.95 1.55%
10-Feb-22 17605.85 0.81% 10-Feb-22 573.65 0.83%
11-Feb-22 17374.75 -1.31% 11-Feb-22 561.45 -2.13%
14-Feb-22 16842.8 -3.06% 14-Feb-22 541.7 -3.52%
15-Feb-22 17352.45 3.03% 15-Feb-22 563.35 4.00%
16-Feb-22 17322.2 -0.17% 16-Feb-22 563.9 0.10%
17-Feb-22 17304.6 -0.10% 17-Feb-22 564.9 0.18%
18-Feb-22 17276.3 -0.16% 18-Feb-22 562.45 -0.43%
21-Feb-22 17206.65 -0.40% 21-Feb-22 570.8 1.48%
22-Feb-22 17092.2 -0.67% 22-Feb-22 564.15 -1.17%
23-Feb-22 17063.25 -0.17% 23-Feb-22 567.1 0.52%
24-Feb-22 16247.95 -4.78% 24-Feb-22 537.15 -5.28%
25-Feb-22 16658.4 2.53% 25-Feb-22 555.25 3.37%
28-Feb-22 16793.9 0.81% 28-Feb-22 555.8 0.10%
02-Mar-22 16605.95 -1.12% 02-Mar-22 555.2 -0.11%
03-Mar-22 16498.05 -0.65% 03-Mar-22 569.55 2.58%
04-Mar-22 16245.35 -1.53% 04-Mar-22 575.3 1.01%
07-Mar-22 15863.15 -2.35% 07-Mar-22 571.85 -0.60%
08-Mar-22 16013.45 0.95% 08-Mar-22 587.45 2.73%
09-Mar-22 16345.35 2.07% 09-Mar-22 585.5 -0.33%
10-Mar-22 16594.9 1.53% 10-Mar-22 588.25 0.47%
11-Mar-22 16630.45 0.21% 11-Mar-22 586.2 -0.35%
14-Mar-22 16871.3 1.45% 14-Mar-22 598.15 2.04%

15. 15-Mar-22 16663 -1.23% 15-Mar-22 587.7 -1.75%
16-Mar-22 16975.35 1.87% 16-Mar-22 598.25 1.80%
17-Mar-22 17287.05 1.84% 17-Mar-22 601.2 0.49%
21-Mar-22 17117.6 -0.98% 21-Mar-22 600 -0.20%
22-Mar-22 17315.5 1.16% 22-Mar-22 610.05 1.67%
23-Mar-22 17245.65 -0.40% 23-Mar-22 611.2 0.19%
24-Mar-22 17222.75 -0.13% 24-Mar-22 610.55 -0.11%
25-Mar-22 17153 -0.40% 25-Mar-22 603.35 -1.18%
28-Mar-22 17222 0.40% 28-Mar-22 600.2 -0.52%
29-Mar-22 17325.3 0.60% 29-Mar-22 602.5 0.38%
30-Mar-22 17498.25 1.00% 30-Mar-22 600.8 -0.28%
31-Mar-22 17464.75 -0.19% 31-Mar-22 591.9 -1.48%
Table 4. Monthly Return (%) of Nifty50 and Wipro Limited
Month
X Y X-X' Y-Y' (X-X')*(Y-Y')
(X-X’) *(X-
X')
April -0.0806% 0.9757% -0.1475% 0.8159% -0.0012% 0.0002%
May 0.3188% 0.4626% 0.2519% 0.3028% 0.0008% 0.0006%
June 0.0412% 0.0632% -0.0257% -0.0966% 0.0000% 0.0000%
July 0.0141% 0.3669% -0.0528% 0.2071% -0.0001% 0.0000%
August 0.3990% 0.4241% 0.3321% 0.2643% 0.0009% 0.0011%
September 0.1350% -0.0386% 0.0681% -0.1983% -0.0001% 0.0000%
October 0.0184% 0.1152% -0.0485% -0.0445% 0.0000% 0.0000%
November -0.1936% -0.0670% -0.2604% -0.2268% 0.0006% 0.0007%
December 0.0994% 0.5151% 0.0325% 0.3553% 0.0001% 0.0000%
January 0.0013% -1.0826% -0.0656% -1.2423% 0.0008% 0.0000%
February -0.1446% -0.1250% -0.2115% -0.2848% 0.0006% 0.0004%
March 0.1941% 0.3076% 0.1272% 0.1478% 0.0002% 0.0002%
average average sum sum sum
0.07% 0.16% 0.0000003% 0.0026% 0.0034%

16. So from the above table we have calculated Variance of Nifty50 is
Variance = 0.0034 / 12 = 0.0000028337
Standard Deviation of NIfty50 is σx = √Variance = √0.0000028337 = 0.0017
Variance of WIPRO Limited is
Variance = 0.0274482/ 12 = 0.000045747
Standard Deviation of Wipro is σy = √Variance = √ 0.000045747 = 0.0067636
βy = CovX,Y/ Variance
= 0.0000021258 / 0.0000028337
= 0.75
Conclusion
As the beta value is 0.75 which is less than 1 it interprets that the price of Wipro Limited tends to be
less volatile than the market.