ITC Ltd

Name Rakesh Raj C

Date 10/30/2019
Purpose
Symbol Series Date Close Price RETURN ON SHARE Close RETURN ON INDICES
ITC EQ 3-Sep-19 241.55 10797.9
ITC EQ 4-Sep-19 243.25 0.0070378804 10844.65 0.0043295456
ITC EQ 5-Sep-19 244.25 0.0041109969 10847.9 0.0002996869
ITC EQ 6-Sep-19 243.9 -0.001432958 10946.2 0.0090616617
ITC EQ 9-Sep-19 245.5 0.0065600656 11003.05 0.0051935832
ITC EQ 11-Sep-19 243.75 -0.0071283096 11035.7 0.0029673591
ITC EQ 12-Sep-19 240.75 -0.0123076923 10982.8 -0.0047935337
ITC EQ 13-Sep-19 239.9 -0.0035306334 11075.9 0.0084768911
ITC EQ 16-Sep-19 239.4 -0.0020842018 11003.5 -0.0065367148
ITC EQ 17-Sep-19 237.2 -0.0091896408 10817.6 -0.0168946244
ITC EQ 18-Sep-19 239.25 0.0086424958 10840.65 0.0021307869
ITC EQ 19-Sep-19 236.7 -0.0106583072 10704.8 -0.0125315364
ITC EQ 20-Sep-19 238.05 0.0057034221 11274.2 0.0531910918
ITC EQ 23-Sep-19 254.85 0.0705734089 11600.2 0.0289155772
ITC EQ 24-Sep-19 256 0.0045124583 11588.2 -0.0010344649
ITC BL 25-Sep-19 256 0 11440.2 -0.0127716125
ITC EQ 26-Sep-19 250.4 -0.021875 11571.2 0.0114508488
ITC EQ 27-Sep-19 252.95 0.0101837061 11512.4 -0.0050815819
ITC EQ 30-Sep-19 259.85 0.0272781182 11474.45 -0.0032964456
SUMMARY OUTPUT FOR THE MONTH OF SEPTEMBER,2019

Regression Statistics
Multiple R 0.377181278
R Square 0.142265717
Adjusted R Square 0.088657324
Standard Error 0.018865388
Observations 18

ANOVA
df SS MS F Significance F
Regression 1 0.0009444935 0.000944493 2.6537956 0.1228300899
Residual 16 0.0056944461 0.000355903
Total 17 0.0066389396

Coefficients Standard Error t Stat P-value Lower 95% Upper 95%

Intercept 0.002638375 0.0045545679 0.579281111 0.570466219 -0.007016877 0.012293628
X Variable 1 0.458253836 0.2813017114 1.629047452 0.12283009 -0.138079153 1.054586825

INTERPRETATION: In the month of sept,2019 the beta value of itc is around 0.4582 which means that when the market return
will be 4.5 percent.At the same period the correlation between return on shares and return on index are .14226, which mean
of itc in NSE is around 14% is due to indices and rest is due to the impact of their personal policies and regulation.
 Lower 95.0% Upper 95.0%
-0.007016877 0.012293628
-0.138079153 1.054586825

at when the market return is 10% the company return

ex are .14226, which means that total price flutuating
and regulation.
Symbol Series Date Close Price RETURN ON INVESTMENT Close RETURN ON INDICES
ITC EQ 1-Aug-19 267.55 10980
ITC EQ 2-Aug-19 264.5 -0.0113997384 10997.35 0.0015801457
ITC EQ 5-Aug-19 259.8 -0.0177693762 10862.6 -0.0122529518
ITC EQ 6-Aug-19 258.9 -0.0034642032 10948.25 0.0078848526
ITC EQ 7-Aug-19 253.65 -0.0202780997 10855.5 -0.0084716736
ITC EQ 8-Aug-19 257.75 0.0161640055 11032.45 0.0163004928
ITC EQ 9-Aug-19 254.2 -0.0137730359 11109.65 0.0069975391
ITC EQ 13-Aug-19 246.3 -0.0310778914 10925.85 -0.0165441756
ITC EQ 14-Aug-19 248.75 0.0099472188 11029.4 0.0094775235
ITC EQ 16-Aug-19 253 0.0170854271 11047.8 0.0016682684
ITC EQ 19-Aug-19 251.55 -0.0057312253 11053.9 0.0005521461
ITC EQ 20-Aug-19 246.5 -0.0200755317 11017 -0.0033381883
ITC EQ 21-Aug-19 241.45 -0.0204868154 10918.7 -0.0089225742
ITC EQ 22-Aug-19 240.05 -0.0057983019 10741.35 -0.0162427762
ITC EQ 23-Aug-19 236.1 -0.0164549052 10829.35 0.0081926387
ITC EQ 26-Aug-19 242.5 0.027107158 11057.85 0.021100066
ITC EQ 27-Aug-19 245.5 0.012371134 11105.35 0.0042955909
ITC EQ 28-Aug-19 245.95 0.0018329939 11046.1 -0.0053352663
ITC EQ 29-Aug-19 241.2 -0.0193128685 10948.3 -0.0088538036
ITC EQ 30-Aug-19 245.65 0.0184494196 11023.25 0.0068458117
SUMMARYOUTPUT FOR THE MONTH OF AUGUST,2019

Regression Statistics
Multiple R 0.716795
R Square 0.513794
Adjusted R 0.485194
Standard E 0.012055
Observatio 19

ANOVA
df SS MS F Significance F
Regression 1 0.002611 0.002611 17.96464 0.000554
Residual 17 0.002471 0.000145
Total 18 0.005081

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00465 0.002767 -1.67971 0.111296 -0.01048 0.00119 -0.01048 0.00119
X Variable 1.14093 0.269184 4.238471 0.000554 0.573001 1.708859 0.573001 1.708859

INTERPRETATION: In the month of august,2019 the beta value of itc is around 1.1409 which means that when the market retu
percent.This investment are more risky and the rate of return is high.At the same period the correlation between return on sh
which means that total price flutuating of itc in NSE is around 51% is due to indices and rest is due to the impact of their pers
means that when the market return is 10% the company return will be 11
correlation between return on shares and return on index are .513794,
is due to the impact of their personal policies and regulation.
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 1-Jul-19 274.95 11865.6
ITC EQ 2-Jul-19 273.85 -0.004 11910.3 0.003767
ITC EQ 3-Jul-19 276.7 0.010407 11916.75 0.000542
ITC EQ 4-Jul-19 277.65 0.003433 11946.75 0.002517
ITC EQ 5-Jul-19 279.45 0.006483 11811.15 -0.01135
ITC EQ 8-Jul-19 277.45 -0.00716 11558.6 -0.02138
ITC EQ 9-Jul-19 273.1 -0.01568 11555.9 -0.00023
ITC EQ 10-Jul-19 273.15 0.000183 11498.9 -0.00493
ITC EQ 11-Jul-19 275.65 0.009152 11582.9 0.007305
ITC EQ 12-Jul-19 275.05 -0.00218 11552.5 -0.00262
ITC EQ 15-Jul-19 270.95 -0.01491 11588.35 0.003103
ITC EQ 16-Jul-19 271.95 0.003691 11662.6 0.006407
ITC EQ 17-Jul-19 272.9 0.003493 11687.5 0.002135
ITC EQ 18-Jul-19 273 0.000366 11596.9 -0.00775
ITC EQ 19-Jul-19 268.3 -0.01722 11419.25 -0.01532
ITC EQ 22-Jul-19 264.4 -0.01454 11346.2 -0.0064
ITC EQ 23-Jul-19 270.65 0.023638 11331.05 -0.00134
ITC EQ 24-Jul-19 270.85 0.000739 11271.3 -0.00527
ITC EQ 25-Jul-19 267.85 -0.01108 11252.15 -0.0017
ITC EQ 26-Jul-19 270.4 0.00952 11284.3 0.002857
ITC EQ 29-Jul-19 267.75 -0.0098 11189.2 -0.00843
ITC EQ 30-Jul-19 268.9 0.004295 11085.4 -0.00928
ITC EQ 31-Jul-19 270.2 0.004835 11118 0.002941
SUMMARYOUTPUT FOR THE MONTH OF JULY,2019

Regression Statistics
Multiple R 0.328075
R Square 0.107633
Adjusted R 0.063015
Standard E 0.009948
Observatio 22

ANOVA
df SS MS F Significance F
Regression 1 0.000239 0.000239 2.412315 0.136066
Residual 20 0.001979 9.9E-05
Total 21 0.002218

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept 0.000623 0.002296 0.271307 0.788936 -0.00417 0.005411 -0.00417 0.005411
X Variable 0.465837 0.299928 1.553163 0.136066 -0.1598 1.091476 -0.1598 1.091476

INTERPRETATION: In the month of july,2019 the beta value of itc is around 0.465837 which means that when the market retur
company return will be 4.6 percent.At the same period the correlation between return on shares and return on index are .107
that total price flutuating of itc in NSE is around 10% is due to indices and rest is due to the impact of their personal policies a
eans that when the market return is 10% the
ares and return on index are .107633, which means
mpact of their personal policies and regulation.
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 3-Jun-19 278.55 12088.55
ITC EQ 4-Jun-19 279.25 0.002513 12021.65 -0.00553
ITC EQ 6-Jun-19 275.75 -0.01253 11843.75 -0.0148
ITC EQ 7-Jun-19 275.25 -0.00181 11870.65 0.002271
ITC EQ 10-Jun-19 279.4 0.015077 11922.7 0.004385
ITC EQ 11-Jun-19 279.85 0.001611 11965.6 0.003598
ITC EQ 12-Jun-19 279.95 0.000357 11906.2 -0.00496
ITC EQ 13-Jun-19 280.6 0.002322 11914.05 0.000659
ITC EQ 14-Jun-19 278.05 -0.00909 11823.3 -0.00762
ITC EQ 17-Jun-19 275 -0.01097 11672.15 -0.01278
ITC EQ 18-Jun-19 275.1 0.000364 11691.5 0.001658
ITC EQ 19-Jun-19 277.2 0.007634 11691.45 -4.28E-06
ITC EQ 20-Jun-19 277 -0.00072 11831.75 0.012
ITC EQ 21-Jun-19 274.25 -0.00993 11724.1 -0.0091
ITC EQ 24-Jun-19 276.25 0.007293 11699.65 -0.00209
ITC EQ 25-Jun-19 278.5 0.008145 11796.45 0.008274
ITC EQ 26-Jun-19 277.4 -0.00395 11847.55 0.004332
ITC EQ 27-Jun-19 273.5 -0.01406 11841.55 -0.00051
ITC EQ 28-Jun-19 273.85 0.00128 11788.85 -0.00445
SUMMARY OUTPUT FOR THE MONTH OF JUNE,2019

Regression Statistics
Multiple R 0.571133
R Square 0.326193
Adjusted R 0.28408
Standard E 0.00675
Observatio 18

ANOVA
df SS MS F Significance F
Regression 1 0.000353 0.000353 7.745675 0.013297
Residual 16 0.000729 4.56E-05
Total 17 0.001082

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -2.71E-05 0.001623 -0.01671 0.986874 -0.00347 0.003413 -0.00347 0.003413
X Variable 0.64784 0.232776 2.783105 0.013297 0.154377 1.141304 0.154377 1.141304

INTERPRETATION: In the month of june,2019 the beta value of itc is around 0.64784 which means that when the market retur
percent.At the same period the correlation between return on shares and return on index are .3261, which means that total p
32% is due to indices and rest is due to the impact of their personal policies and regulation.
eans that when the market return is 10% the company return will be 6.5
e .3261, which means that total price flutuating of itc in NSE is around
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 2-May-19 305 11724.75
ITC EQ 3-May-19 304.25 -0.00246 11712.25 -0.00107
ITC EQ 6-May-19 307 0.009039 11598.25 -0.00973
ITC EQ 7-May-19 301.9 -0.01661 11497.9 -0.00865
ITC EQ 8-May-19 300.65 -0.00414 11359.45 -0.01204
ITC EQ 9-May-19 299.85 -0.00266 11301.8 -0.00508
ITC EQ 10-May-19 297.75 -0.007 11278.9 -0.00203
ITC EQ 13-May-19 289.3 -0.02838 11148.2 -0.01159
ITC EQ 14-May-19 294.35 0.017456 11222.05 0.006624
ITC EQ 15-May-19 297.05 0.009173 11157 -0.0058
ITC EQ 16-May-19 294.75 -0.00774 11257.1 0.008972
ITC EQ 17-May-19 301.4 0.022561 11407.15 0.013329
ITC EQ 20-May-19 307 0.01858 11828.25 0.036915
ITC EQ 21-May-19 305.9 -0.00358 11709.1 -0.01007
ITC EQ 22-May-19 299.75 -0.0201 11737.9 0.00246
ITC EQ 23-May-19 288.2 -0.03853 11657.05 -0.00689
ITC EQ 24-May-19 290.45 0.007807 11844.1 0.016046
ITC EQ 27-May-19 290.85 0.001377 11924.75 0.006809
ITC EQ 28-May-19 288.9 -0.0067 11928.75 0.000335
ITC EQ 29-May-19 288.1 -0.00277 11861.1 -0.00567
ITC EQ 30-May-19 288.65 0.001909 11945.9 0.007149
ITC EQ 31-May-19 278.55 -0.03499 11922.8 -0.00193
SUMMARY OUTPUT FOR THE MONTH OF MAY,2019

Regression Statistics
Multiple R 0.5222
R Square 0.272693
Adjusted R 0.234414
Standard E 0.014409
Observatio 21

ANOVA
df SS MS F Significance F
Regression 1 0.001479 0.001479 7.123764 0.015168
Residual 19 0.003945 0.000208
Total 20 0.005424

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00482 0.003153 -1.52753 0.143106 -0.01142 0.001783 -0.01142 0.001783
X Variable 0.738943 0.276857 2.669038 0.015168 0.159474 1.318411 0.159474 1.318411

INTERPRETATION: In the month of may,2019 the beta value of itc is around 0.7389 which means that when the market return
return will be 7.3 percent.At the same period the correlation between return on shares and return on index are ..2726, which
flutuating of itc in NSE is around 27% is due to indices and rest is due to the impact of their personal policies and regulation.
ans that when the market return is 10% the company
eturn on index are ..2726, which means that total price
personal policies and regulation.
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 1-Apr-19 297.25 11669.15
ITC EQ 2-Apr-19 297.9 0.002187 11713.2 0.003775
ITC EQ 3-Apr-19 296.15 -0.00587 11643.95 -0.00591
ITC EQ 4-Apr-19 294.8 -0.00456 11598 -0.00395
ITC EQ 5-Apr-19 294.55 -0.00085 11665.95 0.005859
ITC EQ 8-Apr-19 292.75 -0.00611 11604.5 -0.00527
ITC EQ 9-Apr-19 296.3 0.012126 11671.95 0.005812
ITC EQ 10-Apr-19 294.7 -0.0054 11584.3 -0.00751
ITC EQ 11-Apr-19 296.4 0.005769 11596.7 0.00107
ITC EQ 12-Apr-19 305.75 0.031545 11643.45 0.004031
ITC EQ 15-Apr-19 305.5 -0.00082 11690.35 0.004028
ITC EQ 16-Apr-19 307.2 0.005565 11787.15 0.00828
ITC EQ 18-Apr-19 304.4 -0.00911 11752.8 -0.00291
ITC EQ 22-Apr-19 301.8 -0.00854 11594.45 -0.01347
ITC EQ 23-Apr-19 303.4 0.005302 11575.95 -0.0016
ITC EQ 24-Apr-19 306.45 0.010053 11726.15 0.012975
ITC EQ 25-Apr-19 304.15 -0.00751 11641.8 -0.00719
ITC EQ 26-Apr-19 304.55 0.001315 11754.65 0.009694
ITC EQ 30-Apr-19 301.35 -0.01051 11748.15 -0.00055
SUMMARY OUTPUT OF APRIL ,2019

Regression Statistics
Multiple R 0.583592
R Square 0.340579
Adjusted R 0.299365
Standard E 0.008556
Observatio 18

ANOVA
df SS MS F Significance F
Regression 1 0.000605 0.000605 8.263716 0.011004
Residual 16 0.001171 7.32E-05
Total 17 0.001776

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept 0.000469 0.00202 0.232251 0.819287 -0.00381 0.004752 -0.00381 0.004752
X Variable 0.857186 0.298186 2.874668 0.011004 0.22506 1.489313 0.22506 1.489313

INTERPRETATION: In the month of april,2019 the beta value of itc is around 0.85714 which means that when the market retu
10% the company return will be 8.5 percent.At the same period the correlation between return on shares and return on inde
340579, which means that total price flutuating of itc in NSE is around 34% is due to indices and rest is due to the impact of t
personal policies and regulation.
 eans that when the market return is
urn on shares and return on index are .
and rest is due to the impact of their
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 1-Mar-19 278.2 10863.5
ITC EQ 5-Mar-19 282.55 0.015636 10987.45 0.01141
ITC EQ 6-Mar-19 285.75 0.011325 11053 0.005966
ITC EQ 7-Mar-19 290.1 0.015223 11058.2 0.00047
ITC EQ 8-Mar-19 292 0.006549 11035.4 -0.00206
ITC EQ 11-Mar-19 292.95 0.003253 11168.05 0.01202
ITC EQ 12-Mar-19 294.5 0.005291 11301.2 0.011922
ITC EQ 13-Mar-19 294.9 0.001358 11341.7 0.003584
ITC EQ 14-Mar-19 295.5 0.002035 11343.25 0.000137
ITC EQ 15-Mar-19 290.8 -0.01591 11426.85 0.00737
ITC EQ 18-Mar-19 293.75 0.010144 11462.2 0.003094
ITC EQ 19-Mar-19 299.45 0.019404 11532.4 0.006124
ITC EQ 20-Mar-19 298.9 -0.00184 11521.05 -0.00098
ITC BL 22-Mar-19 298.9 0 11456.9 -0.00557
ITC EQ 25-Mar-19 295.05 -0.01288 11354.25 -0.00896
ITC EQ 26-Mar-19 293.4 -0.00559 11483.25 0.011361
ITC EQ 27-Mar-19 293.1 -0.00102 11445.05 -0.00333
ITC EQ 28-Mar-19 300 0.023541 11570 0.010917
ITC EQ 29-Mar-19 297.25 -0.00917 11623.9 0.004659
-1
SUMMARY OUTPUT OF MARCH,2019

Regression Statistics
Multiple R 0.332451
R Square 0.110524
Adjusted R 0.054931
Standard E 0.010576
Observatio 18

ANOVA
df SS MS F Significance F
Regression 1 0.000222 0.000222 1.988113 0.177682
Residual 16 0.00179 0.000112
Total 17 0.002012

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept 0.001618 0.002913 0.555671 0.586123 -0.00456 0.007793 -0.00456 0.007793
X Variable 0.561041 0.3979 1.410005 0.177682 -0.28247 1.404552 -0.28247 1.404552

INTERPRETATION: In the month of march,2019 the beta value of itc is around 0.561which means that when the market retur
is 10% the company return will be 5.6 percent.At the same period the correlation between return on shares and return on
index are .1105, which means that total price flutuating of itc in NSE is around 11% is due to indices and rest is due to the
impact of their personal policies and regulation.
eans that when the market return
eturn on shares and return on
indices and rest is due to the
Symbol Series Date Close PriceRETURN ON SHAClose RETURN ON INDICES
ITC EQ 1-Feb-19 280.85 10893.65
ITC EQ 4-Feb-19 277.1 -0.0133523233 10912.25 0.001707
ITC EQ 5-Feb-19 274.15 -0.0106459762 10934.35 0.002025
ITC EQ 6-Feb-19 277.7 0.0129491154 11062.45 0.011715
ITC EQ 7-Feb-19 280.3 0.0093626215 11069.4 0.000628
ITC EQ 8-Feb-19 275.5 -0.0171245095 10943.6 -0.01136
ITC EQ 11-Feb-19 277.1 0.0058076225 10888.8 -0.00501
ITC EQ 12-Feb-19 275.3 -0.0064958499 10831.4 -0.00527
ITC EQ 13-Feb-19 276.85 0.0056302216 10793.65 -0.00349
ITC EQ 14-Feb-19 277.9 0.0037926675 10746.05 -0.00441
ITC EQ 15-Feb-19 280.1 0.0079165167 10724.4 -0.00201
ITC EQ 18-Feb-19 274.7 -0.019278829 10640.95 -0.00778
ITC EQ 19-Feb-19 275.9 0.0043684019 10604.35 -0.00344
ITC EQ 20-Feb-19 275.85 -0.0001812251 10735.45 0.012363
ITC EQ 21-Feb-19 275.05 -0.0029001269 10789.85 0.005067
ITC EQ 22-Feb-19 274.3 -0.0027267769 10791.65 0.000167
ITC EQ 25-Feb-19 276.7 0.0087495443 10880.1 0.008196
ITC EQ 26-Feb-19 275.5 -0.0043368269 10835.3 -0.00412
ITC EQ 27-Feb-19 275.1 -0.0014519056 10806.65 -0.00264
ITC EQ 28-Feb-19 276.05 0.0034532897 10792.5 -0.00131
SUMMARY OUTPUT OF FEBRUARY,2019

Regression Statistics
Multiple R 0.443821
R Square 0.196977
Adjusted R 0.149741
Standard E 0.008492
Observatio 19

ANOVA
df SS MS F Significance F
Regression 1 0.000301 0.000301 4.170016 0.056976
Residual 17 0.001226 7.21E-05
Total 18 0.001527

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00056 0.001954 -0.2852 0.778933 -0.00468 0.003565 -0.00468 0.003565
X Variable 0.654567 0.320542 2.042062 0.056976 -0.02172 1.330852 -0.02172 1.330852

INTERPRETATION: In the month of february,2019 the beta value of itc is around 0.0015which means that when the market re
company return will be 1 percent.At the same period the correlation between return on shares and return on index are .196
total price flutuating of itc in NSE is around 19% is due to indices and rest is due to the impact of their personal policies and
 means that when the market return is 10% the
res and return on index are .196977, which means that
ct of their personal policies and regulation.
Symbol Series Date Close PriceRETURN ON SHARE Close RETURN ON INDICES
ITC EQ 1-Jan-19 282.7 10910.1
ITC EQ 2-Jan-19 280.6 -0.0074283693 10792.5 -0.0107790029
ITC EQ 3-Jan-19 278.85 -0.0062366358 10672.25 -0.0111419968
ITC EQ 4-Jan-19 280.95 0.0075309306 10727.35 0.0051629225
ITC EQ 7-Jan-19 281.65 0.0024915465 10771.8 0.0041436142
ITC EQ 8-Jan-19 284.25 0.0092313155 10802.15 0.0028175421
ITC EQ 9-Jan-19 290.4 0.0216358839 10855.15 0.0049064307
ITC EQ 10-Jan-19 289.6 -0.0027548209 10821.6 -0.0030906989
ITC EQ 11-Jan-19 295.35 0.0198549724 10794.95 -0.0024626673
ITC EQ 14-Jan-19 294.3 -0.0035551041 10737.6 -0.0053126694
ITC EQ 15-Jan-19 296.55 0.0076452599 10886.8 0.0138950976
ITC EQ 16-Jan-19 294.05 -0.0084302816 10890.3 0.0003214902
ITC EQ 17-Jan-19 293.95 -0.0003400782 10905.2 0.00136819
ITC EQ 18-Jan-19 291.45 -0.0085048478 10906.95 0.0001604739
ITC EQ 21-Jan-19 289.9 -0.0053182364 10961.85 0.0050334878
ITC EQ 22-Jan-19 289.75 -0.0005174198 10922.75 -0.0035669162
ITC EQ 23-Jan-19 277.3 -0.0429680759 10831.5 -0.0083541233
ITC EQ 24-Jan-19 278.9 0.0057699243 10849.8 0.0016895167
ITC EQ 25-Jan-19 279.2 0.0010756544 10780.55 -0.0063826061
ITC EQ 28-Jan-19 274.75 -0.0159383954 10661.55 -0.0110383979
ITC EQ 29-Jan-19 278.45 0.013466788 10652.2 -0.0008769832
ITC EQ 30-Jan-19 275.5 -0.0105943616 10651.8 -3.75509284468E-05
ITC EQ 31-Jan-19 278.65 0.0114337568 10830.95 0.0168187536
SUMMARY OUTPUT OF JANUARY,2019

Regression Statistics
Multiple R 0.528713
R Square 0.279537
Adjusted R 0.243514
Standard E 0.011864
Observatio 22

ANOVA
df SS MS F Significance F
Regression 1 0.001092 0.001092 7.759935 0.011413
Residual 20 0.002815 0.000141
Total 21 0.003907

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00026 0.002532 -0.10374 0.918405 -0.00554 0.005018 -0.00554 0.005018
X Variable 0.991986 0.356104 2.785666 0.011413 0.249167 1.734806 0.249167 1.734806

INTERPRETATION: In the month of january,2019 the beta value of itc is around 0.9919which means that when the market retu
return will be 9.9.percent.At the same period the correlation between return on shares and return on index are .2794, which
flutuating of itc in NSE is around 27% is due to indices and rest is due to the impact of their personal policies and regulation.
means that when the market return is 10% the company
eturn on index are .2794, which means that total price
ersonal policies and regulation.
Symbol Series Date Close PriceRETURN ON SHARClose RETURN ON INDICES
ITC EQ 3-Dec-18 282.95 10883.75
ITC EQ 4-Dec-18 281.85 -0.0038876127 10869.5 -0.00131
ITC EQ 5-Dec-18 275.35 -0.0230619124 10782.9 -0.00797
ITC EQ 6-Dec-18 273.05 -0.0083530053 10601.15 -0.01686
ITC EQ 7-Dec-18 274.05 0.0036623329 10693.7 0.00873
ITC EQ 10-Dec-18 270.45 -0.013136289 10488.45 -0.01919
ITC EQ 11-Dec-18 274.7 0.0157145498 10549.15 0.005787
ITC EQ 12-Dec-18 276.05 0.0049144521 10737.6 0.017864
ITC EQ 13-Dec-18 275.3 -0.0027168991 10791.55 0.005024
ITC EQ 14-Dec-18 275.75 0.0016345805 10805.45 0.001288
ITC EQ 17-Dec-18 279.85 0.0148685403 10888.35 0.007672
ITC EQ 18-Dec-18 278.15 -0.0060746829 10908.7 0.001869
ITC EQ 19-Dec-18 283.45 0.019054467 10967.3 0.005372
ITC EQ 20-Dec-18 282.65 -0.0028223673 10951.7 -0.00142
ITC EQ 21-Dec-18 276.75 -0.0208738723 10754 -0.01805
ITC EQ 24-Dec-18 276 -0.0027100271 10663.5 -0.00842
ITC EQ 26-Dec-18 276.65 0.0023550725 10729.85 0.006222
ITC EQ 27-Dec-18 280.75 0.0148201699 10779.8 0.004655
ITC EQ 28-Dec-18 282.25 0.0053428317 10859.9 0.007431
ITC EQ 31-Dec-18 281.65 -0.002125775 10862.55 0.000244
SUMMARY OUTPUT OF DECEMBER,2018

Regression Statistics
Multiple R 0.72982
R Square 0.532638
Adjusted R 0.505146
Standard E 0.008146
Observatio 19

ANOVA
df SS MS F Significance F
Regression 1 0.001286 0.001286 19.37436 0.00039
Residual 17 0.001128 6.64E-05
Total 18 0.002414

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00013 0.001869 -0.07033 0.94475 -0.00407 0.003811 -0.00407 0.003811
X Variable 0.85009 0.193131 4.401632 0.00039 0.44262 1.257561 0.44262 1.257561

INTERPRETATION: In the month of december,2018 the beta value of itc is around 0.85009 which means that when the market
is 10% the company return will be 8.5 percent.At the same period the correlation between return on shares and return on ind
532638, which means that total price flutuating of itc in NSE is around 53% is due to indices and rest is due to the impact of t
personal policies and regulation.
 ich means that when the market return
eturn on shares and return on index are .
and rest is due to the impact of their
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 1-Nov-18 277.4 10380.45
ITC EQ 2-Nov-18 283.25 0.021089 10553 0.016623
ITC EQ 5-Nov-18 279.6 -0.01289 10524 -0.00275
ITC EQ 6-Nov-18 277.3 -0.00823 10530 0.00057
ITC EQ 7-Nov-18 280.05 0.009917 10598.4 0.006496
ITC EQ 9-Nov-18 277.25 -0.01 10585.2 -0.00125
ITC EQ 12-Nov-18 273.85 -0.01226 10482.2 -0.00973
ITC EQ 13-Nov-18 276.85 0.010955 10582.5 0.009569
ITC EQ 14-Nov-18 276.45 -0.00144 10576.3 -0.00059
ITC EQ 15-Nov-18 274.5 -0.00705 10616.7 0.00382
ITC EQ 16-Nov-18 276.55 0.007468 10682.2 0.00617
ITC EQ 19-Nov-18 284.5 0.028747 10763.4 0.007601
ITC EQ 20-Nov-18 283.85 -0.00228 10656.2 -0.00996
ITC EQ 21-Nov-18 281.75 -0.0074 10600.05 -0.00527
ITC EQ 22-Nov-18 280.5 -0.00444 10526.75 -0.00692
ITC EQ 26-Nov-18 285.65 0.01836 10628.6 0.009675
ITC EQ 27-Nov-18 284.85 -0.0028 10685.6 0.005363
ITC EQ 28-Nov-18 282.2 -0.0093 10728.85 0.004048
ITC EQ 29-Nov-18 287.55 0.018958 10858.7 0.012103
ITC EQ 30-Nov-18 285.8 -0.00609 10876.75 0.001662
SUMMARY OUTPUT OF NOVEMBER,2018

Regression Statistics
Multiple R 0.758026
R Square 0.574604
Adjusted R 0.54958
Standard E 0.008573
Observatio 19

ANOVA
df SS MS F Significance F
Regression 1 0.001688 0.001688 22.96273 0.00017
Residual 17 0.001249 7.35E-05
Total 18 0.002937

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00163 0.002082 -0.78342 0.444157 -0.00603 0.002762 -0.00603 0.002762
X Variable 1.318876 0.275228 4.791944 0.00017 0.738196 1.899556 0.738196 1.899556

INTERPRETATION: In the month of november,2018 the beta value of itc is around 1.3188 which means that when the market
percent.The company is giving a high return comparing to the market.This is high risky shares to invest.At the same period th
return on index are .5746, which means that total price flutuating of itc in NSE is around 57% is due to indices and rest is due
regulation.
ch means that when the market return is 10% the company return will be 13
to invest.At the same period the correlation between return on shares and
is due to indices and rest is due to the impact of their personal policies and
Symbol Series Date Close PriceRETURN OClose RETURN ON INDICES
ITC EQ 1-Oct-18 297.1 11008.3
ITC EQ 3-Oct-18 295.2 -0.0064 10858.25 -0.01363
ITC EQ 4-Oct-18 287.1 -0.02744 10599.25 -0.02385
ITC EQ 5-Oct-18 276.5 -0.03692 10316.45 -0.02668
ITC EQ 8-Oct-18 273.2 -0.01193 10348.05 0.003063
ITC EQ 9-Oct-18 268.5 -0.0172 10301.05 -0.00454
ITC EQ 10-Oct-18 270.1 0.005959 10460.1 0.01544
ITC EQ 11-Oct-18 265.2 -0.01814 10234.65 -0.02155
ITC EQ 12-Oct-18 275.2 0.037707 10472.5 0.02324
ITC EQ 15-Oct-18 282.5 0.026526 10512.5 0.00382
ITC EQ 16-Oct-18 282.65 0.000531 10584.75 0.006873
ITC EQ 17-Oct-18 286.45 0.013444 10453.05 -0.01244
ITC EQ 19-Oct-18 289.45 0.010473 10303.55 -0.0143
ITC EQ 22-Oct-18 288.5 -0.00328 10245.25 -0.00566
ITC EQ 23-Oct-18 286 -0.00867 10146.8 -0.00961
ITC EQ 24-Oct-18 287.75 0.006119 10224.75 0.007682
ITC EQ 25-Oct-18 287.55 -0.0007 10124.9 -0.00977
ITC EQ 26-Oct-18 280.9 -0.02313 10030 -0.00937
ITC EQ 29-Oct-18 283.5 0.009256 10250.85 0.022019
ITC EQ 30-Oct-18 278.95 -0.01605 10198.4 -0.00512
ITC EQ 31-Oct-18 280.1 0.004123 10386.6 0.018454
SUMMARY OUTPUT OF OCTOBER,2018

Regression Statistics
Multiple R 0.680716
R Square 0.463374
Adjusted R 0.433562
Standard E 0.013639
Observatio 20

ANOVA
df SS MS F Significance F
Regression 1 0.002891 0.002891 15.54292 0.000955
Residual 18 0.003348 0.000186
Total 19 0.00624

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.00047 0.003106 -0.15178 0.881049 -0.007 0.006054 -0.007 0.006054
X Variable 0.827493 0.209893 3.942452 0.000955 0.386524 1.268462 0.386524 1.268462

INTERPRETATION: In the month of october,2018 the beta value of itc is around 0.82749 which means that when the market re
return will be 8.2 percent.At the same period the correlation between return on shares and return on index are .4633, which
flutuating of itc in NSE is around 46% is due to indices and rest is due to the impact of their personal policies and regulation.
 means that when the market return is 10% the company
eturn on index are .4633, which means that total price
ersonal policies and regulation.
YEAR MONTH BETA REGRESSION
2018 OCTOBER 0.827493 0.463374
2018 NOVEMBER 1.318876 0.574604 INTERPRETATION: In the year from october 2018,the bet
value of the year .792754.that basically states that if the
2018 DECEMBER 0.85009 0.532638 interest.the highest beta value for the period was 1.3188
2019 JANUARY 0.991986 0.279537 13%.this means the company is more volataile,higher the
says that 10% return it gives 4.6% return.If the beta is mo
2019 FEBRUARY 0.654567 0.196977
2019 MARCH 0.561041 0.110524 The average of correlation between shares and indices ar
2019 APRIL 0.857186 0.340579 indices or market rest happens due to the internal policie
the month of september ,2019 which means just 14% im
2019 MAY 0.738943 0.272693 was .574 which means market has a 57% influence of re
2019 JUNE 0.64784 0.326193
2019 JULY 0.465837 0.107633
2019 AUGUST 1.14093 0.513794
2019 SEPTEMBER 0.458254 0.142266

AVERAGE 0.792754 0.321734

 ar from october 2018,the beta value,ITC has been changing every month after another.The average
hat basically states that if the market gives you 10% return the companies share gives 7.9%
ue for the period was 1.3188 which means that if 10% return is provided the company will provide
ny is more volataile,higher the rate of risk higher the rate of return.The lowest beta value .465 and it
4.6% return.If the beta is more than 1 then the risk and return is higher.

etween shares and indices are .3217,which states that 32% of the return is due to flutuation in
ens due to the internal policies and decision of the govenment .The lowest indices was in .142266 in
019 which means just 14% impact has been made by indices in return on share.the highest value
ket has a 57% influence of return on share.