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title

AN EMPIRICAL STUDY OF THE RELATION BETWEEN STOCK MARKET RETURNS AND RISK IN INFORMATION TECHNOLOGY INDUSTRY IN INDIA

Author(s):

Dr. Sunita Panicker

Keywords:

Arbitrage Pricing Theory (APT), Capital Asset Pricing Model (CAPM), Risk, Return. Stock Market.

Abstract

The research paper focuses on the risk and return as the base of investment in stock market. It helps the investor in choosing the best stock option as per the requirement of investor. Any investment has major focus on return and return depends upon the amount of risk taken. Higher the risk, higher is the return. The data for the purpose of analysis has been collected from Secondary sources and the sources being NSE, IBEF.org and Money Control.com. The data have been collected for a period of 5 years from August 2012 to August 2017.The companies chosen for the analysis is Infosys, Wipro, Tech Mahindra, Oracle, and TCS. Growth, Return on Equity and systematic risk has been used as factors for analyzing the performance of IT industry. Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) are used as the two major tools. The findings of the research concludes that CAPM provides higher returns as compare to returns derived from APT. IT sector has fallen in terms of its growth to 7.7% in 2017 as compare to 9.3% in 2016.

Other Details

Paper ID: IJSARTV
Published in: Volume : 4, Issue : 2
Publication Date: 2/25/2018

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