RAMCO CEMENT NIFTY

DATE Adj Close Company's Return DATE Adj Close market's Return
1-Mar-22 725.9 1-Mar-22 16,663.00
1-Feb-22 786.9 8.40% 1-Feb-22 16,793.90 0.79%
1-Jan-22 869.1 10.45% 1-Jan-22 17,339.85 3.25%
1-Dec-21 1,004.10 15.53% 1-Dec-21 17,354.05 0.08%
1-Nov-21 941.05 -6.28% 1-Nov-21 16,983.20 -2.14%
1-Oct-21 1,066.50 13.33% 1-Oct-21 17,671.65 4.05%
1-Sep-21 984.65 -7.67% 1-Sep-21 17,618.15 -0.30%
1-Aug-21 1,008.80 2.45% 1-Aug-21 17,132.20 -2.76%
1-Jul-21 1,093.20 8.37% 1-Jul-21 15,763.05 -7.99%
1-Jun-21 1,025.75 -6.17% 1-Jun-21 15,721.50 -0.26%
1-May-21 966.25 -5.80% 1-May-21 15,582.80 -0.88%
1-Apr-21 985.5 1.99% 1-Apr-21 14,631.10 -6.11%
1-Mar-21 999.39 1.41% 1-Mar-21 14,690.70 0.41%
1-Feb-21 965.3 -3.41% 1-Feb-21 14,529.15 -1.10%
1-Jan-21 778.54 -19.35% 1-Jan-21 13,634.60 -6.16%
1-Dec-20 793.89 1.97% 1-Dec-20 13,981.75 2.55%
1-Nov-20 889.34 12.02% 1-Nov-20 12,968.95 -7.24%
1-Oct-20 794.44 -10.67% 1-Oct-20 11,642.40 -10.23%
1-Sep-20 751.13 -5.45% 1-Sep-20 11,247.55 -3.39%
1-Aug-20 690.87 -8.02% 1-Aug-20 11,387.50 1.24%
1-Jul-20 689.77 -0.16% 1-Jul-20 11,073.45 -2.76%
1-Jun-20 633.1 -8.22% 1-Jun-20 10,302.10 -6.97%
1-May-20 601.7 -4.96% 1-May-20 9,580.30 -7.01%
1-Apr-20 550.96 -8.43% 1-Apr-20 9,859.90 2.92%
1-Mar-20 509.45 -7.53% 1-Mar-20 8,597.75 -12.80%
1-Feb-20 764.99 50.16% 1-Feb-20 11,201.75 30.29%
1-Jan-20 776.17 1.46% 1-Jan-20 11,962.10 6.79%
1-Dec-19 749.64 -3.42% 1-Dec-19 12,168.45 1.73%
1-Nov-19 795.39 6.10% 1-Nov-19 12,056.05 -0.92%
1-Oct-19 779.59 -1.99% 1-Oct-19 11,877.45 -1.48%
1-Sep-19 746.91 -4.19% 1-Sep-19 11,474.45 -3.39%
1-Aug-19 723.27 -3.17% 1-Aug-19 11,023.25 -3.93%
1-Jul-19 728.58 0.73% 1-Jul-19 11,118.00 0.86%
1-Jun-19 775.62 6.46% 1-Jun-19 11,788.85 6.03%
1-May-19 807.43 4.10% 1-May-19 11,922.80 1.14%
1-Apr-19 766.17 -5.11% 1-Apr-19 11,748.15 -1.46%
1-Mar-19 728.08 -4.97% 1-Mar-19 11,623.90 -1.06%
1-Feb-19 663.77 -8.83% 1-Feb-19 10,792.50 -7.15%
1-Jan-19 594.32 -10.46% 1-Jan-19 10,830.95 0.36%
1-Dec-18 633.1 6.53% 1-Dec-18 10,862.55 0.29%
1-Nov-18 596.79 -5.74% 1-Nov-18 10,876.75 0.13%
1-Oct-18 593.28 -0.59% 1-Oct-18 10,386.60 -4.51%
1-Sep-18 636.32 7.25% 1-Sep-18 10,930.45 5.24%
1-Aug-18 682.03 7.18% 1-Aug-18 11,680.50 6.86%
1-Jul-18 707.3 3.71% 1-Jul-18 11,356.50 -2.77%
1-Jun-18 691.94 -2.17% 1-Jun-18 10,714.30 -5.65%
1-May-18 762.03 10.13% 1-May-18 10,736.15 0.20%
1-Apr-18 811.43 6.48% 1-Apr-18 10,739.35 0.03%
1-Mar-18 712.97 -12.13% 1-Mar-18 10,113.70 -5.83%
1-Feb-18 741.39 3.99% 1-Feb-18 10,492.85 3.75%
1-Jan-18 746.95 0.75% 1-Jan-18 11,027.70 5.10%
1-Dec-17 773.9 3.61% 1-Dec-17 10,530.70 -4.51%
1-Nov-17 689.62 -10.89% 1-Nov-17 10,226.55 -2.89%
1-Oct-17 710.11 2.97% 1-Oct-17 10,335.30 1.06%
1-Sep-17 682.08 -3.95% 1-Sep-17 9,788.60 -5.29%
1-Aug-17 680.51 -0.23% 1-Aug-17 9,917.90 1.32%
1-Jul-17 665.59 -2.19% 1-Jul-17 10,077.10 1.61%
1-Jun-17 681.53 2.39% 1-Jun-17 9,520.90 -5.52%
1-May-17 710.17 4.20% 1-May-17 9,621.25 1.05%
1-Apr-17 674.03 -5.09% 1-Apr-17 9,304.05 -3.30%
 covariance 0.00383322407281819
Variance 0.00918852577006686

Beta= covariance/variance

Beta 0.4172

Market Return 12.36%

RISK FREE RATE 6.82%
COST OF EQUITY RISK FREE RATE+ BETA*(MARKET RETURN-RISK FREE RATE)

COST OF EQUITY 9.13%

Chart Title
35.00%
30.00%
25.00%
20.00%
f(x) = 0.41717509084053 x − 0.00943897350547644
15.00%
R² = 0.472260136005135
10.00%
5.00%
0.00%
- 40.00% - 20.00% 0.00% 20.00% 40.00% 60.00%
-5.00%
-10.00%
-15.00%
JK CEMENT NIFTY
DATE Adj Close Company's Return DATE Adj Close Market's Return
1-Mar-22 2,303.20 1-Mar-22 16,663.00
1-Feb-22 2,846.80 23.60% 1-Feb-22 16,793.90 0.79%
1-Jan-22 3,307.95 16.20% 1-Jan-22 17,339.85 3.25%
1-Dec-21 3,398.85 2.75% 1-Dec-21 17,354.05 0.08%
1-Nov-21 3,234.95 -4.82% 1-Nov-21 16,983.20 -2.14%
1-Oct-21 3,315.75 2.50% 1-Oct-21 17,671.65 4.05%
1-Sep-21 3,107.75 -6.27% 1-Sep-21 17,618.15 -0.30%
1-Aug-21 3,241.35 4.30% 1-Aug-21 17,132.20 -2.76%
1-Jul-21 3,229.21 -0.37% 1-Jul-21 15,763.05 -7.99%
1-Jun-21 2,825.31 -12.51% 1-Jun-21 15,721.50 -0.26%
1-May-21 2,823.28 -0.07% 1-May-21 15,582.80 -0.88%
1-Apr-21 2,780.62 -1.51% 1-Apr-21 14,631.10 -6.11%
1-Mar-21 2,870.64 3.24% 1-Mar-21 14,690.70 0.41%
1-Feb-21 2,663.41 -7.22% 1-Feb-21 14,529.15 -1.10%
1-Jan-21 2,111.33 -20.73% 1-Jan-21 13,634.60 -6.16%
1-Dec-20 1,899.19 -10.05% 1-Dec-20 13,981.75 2.55%
1-Nov-20 2,011.30 5.90% 1-Nov-20 12,968.95 -7.24%
1-Oct-20 1,834.39 -8.80% 1-Oct-20 11,642.40 -10.23%
1-Sep-20 1,493.01 -18.61% 1-Sep-20 11,247.55 -3.39%
1-Aug-20 1,475.92 -1.14% 1-Aug-20 11,387.50 1.24% C
1-Jul-20 1,486.27 0.70% 1-Jul-20 11,073.45 -2.76% 35.00%
1-Jun-20 1,366.33 -8.07% 1-Jun-20 10,302.10 -6.97% 30.00%
1-May-20 1,157.57 -15.28% 1-May-20 9,580.30 -7.01% 25.00%
1-Apr-20 1,109.02 -4.19% 1-Apr-20 9,859.90 2.92% 20.00%
1-Mar-20 921.68 -16.89% 1-Mar-20 8,597.75 -12.80% 15.00%
f(x) = 0.35198527
1-Feb-20 1,366.99 48.32% 1-Feb-20 11,201.75 30.29% 10.00%
1-Jan-20 1,365.41 -0.12% 1-Jan-20 11,962.10 6.79%
5.00%
1-Dec-19 1,151.53 -15.66% 1-Dec-19 12,168.45 1.73%
0.00%
1-Nov-19 1,139.95 -1.01% 1-Nov-19 12,056.05 -0.92% - 40.00% -20.00% 0.0
-5.00%
1-Oct-19 1,100.50 -3.46% 1-Oct-19 11,877.45 -1.48%
1-Sep-19 1,034.78 -5.97% 1-Sep-19 11,474.45 -3.39% -10.00%
1-Aug-19 1,013.95 -2.01% 1-Aug-19 11,023.25 -3.93% -15.00%
1-Jul-19 932.02 -8.08% 1-Jul-19 11,118.00 0.86%
1-Jun-19 966.51 3.70% 1-Jun-19 11,788.85 6.03%
1-May-19 1,006.31 4.12% 1-May-19 11,922.80 1.14%
1-Apr-19 871.57 -13.39% 1-Apr-19 11,748.15 -1.46%
1-Mar-19 836.21 -4.06% 1-Mar-19 11,623.90 -1.06%
1-Feb-19 699.88 -16.30% 1-Feb-19 10,792.50 -7.15%
1-Jan-19 683.86 -2.29% 1-Jan-19 10,830.95 0.36%
1-Dec-18 688.45 0.67% 1-Dec-18 10,862.55 0.29%
1-Nov-18 686.42 -0.29% 1-Nov-18 10,876.75 0.13%
1-Oct-18 648.99 -5.45% 1-Oct-18 10,386.60 -4.51%
1-Sep-18 740.02 14.03% 1-Sep-18 10,930.45 5.24%
1-Aug-18 772.43 4.38% 1-Aug-18 11,680.50 6.86%
1-Jul-18 722.3 -6.49% 1-Jul-18 11,356.50 -2.77%
1-Jun-18 817.87 13.23% 1-Jun-18 10,714.30 -5.65%
1-May-18 883.93 8.08% 1-May-18 10,736.15 0.20%
1-Apr-18 940.43 6.39% 1-Apr-18 10,739.35 0.03%
1-Mar-18 954.4 1.49% 1-Mar-18 10,113.70 -5.83%
1-Feb-18 951.34 -0.32% 1-Feb-18 10,492.85 3.75%
1-Jan-18 1,048.28 10.19% 1-Jan-18 11,027.70 5.10%
1-Dec-17 1,044.33 -0.38% 1-Dec-17 10,530.70 -4.51%
1-Nov-17 939.82 -10.01% 1-Nov-17 10,226.55 -2.89%
1-Oct-17 942.5 0.29% 1-Oct-17 10,335.30 1.06%
1-Sep-17 896.99 -4.83% 1-Sep-17 9,788.60 -5.29%
1-Aug-17 945.04 5.36% 1-Aug-17 9,917.90 1.32%
1-Jul-17 949.29 0.45% 1-Jul-17 10,077.10 1.61%
1-Jun-17 875.53 -7.77% 1-Jun-17 9,520.90 -5.52%
1-May-17 1,034.89 18.20% 1-May-17 9,621.25 1.05%
1-Apr-17 908.96 -12.17% 1-Apr-17 9,304.05 -3.30%
 COVARIANCE
VARIANCE

covariance 0.00431527229555843
variance 0.0122598091880287

Beta= covariance/variance

Beta 0.35

Market Return 12.36%

RISK FREE RATE 6.82%
COST OF EQUITY RISK FREE RATE+ BETA*(MARKET RETURN-RISK FREE RATE)

COST OF EQUITY 8.77%

Chart Title
35.00%
30.00%
25.00%
20.00%
15.00%
f(x) = 0.351985273944733 x − 0.00475257428949532
10.00%
5.00%
0.00%
- 40.00% -20.00% 0.00% 20.00% 40.00% 60.00%
-5.00%
-10.00%
-15.00%
INDIA CEMENT NIFTY
DATE Adj Close Company's Return DATE Adj Close Market's Return
1-Mar-22 205.85 1-Mar-22 16,663.00
1-Feb-22 202.15 -1.80% 1-Feb-22 16,793.90 0.79%
1-Jan-22 222.95 10.29% 1-Jan-22 17,339.85 3.25%
1-Dec-21 192.25 -13.77% 1-Dec-21 17,354.05 0.08%
1-Nov-21 184.05 -4.27% 1-Nov-21 16,983.20 -2.14%
1-Oct-21 206.1 11.98% 1-Oct-21 17,671.65 4.05%
1-Sep-21 200.3 -2.81% 1-Sep-21 17,618.15 -0.30%
1-Aug-21 162.59 -18.83% 1-Aug-21 17,132.20 -2.76%
1-Jul-21 190.97 17.45% 1-Jul-21 15,763.05 -7.99%
1-Jun-21 190.77 -0.10% 1-Jun-21 15,721.50 -0.26%
1-May-21 181.13 -5.05% 1-May-21 15,582.80 -0.88%
1-Apr-21 162.2 -10.45% 1-Apr-21 14,631.10 -6.11%
1-Mar-21 166.32 2.54% 1-Mar-21 14,690.70 0.41%
1-Feb-21 161.5 -2.90% 1-Feb-21 14,529.15 -1.10%
1-Jan-21 153.75 -4.80% 1-Jan-21 13,634.60 -6.16%
1-Dec-20 168.16 9.37% 1-Dec-20 13,981.75 2.55%
1-Nov-20 157.62 -6.27% 1-Nov-20 12,968.95 -7.24%
1-Oct-20 117.62 -25.38% 1-Oct-20 11,642.40 -10.23%
1-Sep-20 115.79 -1.56% 1-Sep-20 11,247.55 -3.39%
1-Aug-20 113.36 -2.10% 1-Aug-20 11,387.50 1.24%
1-Jul-20 110.2 -2.79% 1-Jul-20 11,073.45 -2.76%
1-Jun-20 126.86 15.12% 1-Jun-20 10,302.10 -6.97%
1-May-20 124.19 -2.10% 1-May-20 9,580.30 -7.01%
1-Apr-20 102.68 -17.32% 1-Apr-20 9,859.90 2.92%
1-Mar-20 104.71 1.98% 1-Mar-20 8,597.75 -12.80%
1-Feb-20 95.31 -8.98% 1-Feb-20 11,201.75 30.29%
1-Jan-20 81.06 -14.95% 1-Jan-20 11,962.10 6.79%
1-Dec-19 70.63 -12.87% 1-Dec-19 12,168.45 1.73%
1-Nov-19 79.83 13.03% 1-Nov-19 12,056.05 -0.92%
1-Oct-19 82.94 3.90% 1-Oct-19 11,877.45 -1.48%
1-Sep-19 77.34 -6.75% 1-Sep-19 11,474.45 -3.39%
1-Aug-19 72.35 -6.45% 1-Aug-19 11,023.25 -3.93%
1-Jul-19 85.9 18.73% 1-Jul-19 11,118.00 0.86%
1-Jun-19 97.64 13.67% 1-Jun-19 11,788.85 6.03%
1-May-19 103.31 5.81% 1-May-19 11,922.80 1.14%
1-Apr-19 104.78 1.42% 1-Apr-19 11,748.15 -1.46%
1-Mar-19 105.95 1.12% 1-Mar-19 11,623.90 -1.06%
1-Feb-19 85.75 -19.07% 1-Feb-19 10,792.50 -7.15%
1-Jan-19 82.43 -3.87% 1-Jan-19 10,830.95 0.36%
1-Dec-18 94.02 14.06% 1-Dec-18 10,862.55 0.29%
1-Nov-18 91.92 -2.23% 1-Nov-18 10,876.75 0.13%
1-Oct-18 87.86 -4.42% 1-Oct-18 10,386.60 -4.51%
1-Sep-18 98.35 11.94% 1-Sep-18 10,930.45 5.24%
1-Aug-18 122.84 24.90% 1-Aug-18 11,680.50 6.86%
1-Jul-18 113.75 -7.40% 1-Jul-18 11,356.50 -2.77%
1-Jun-18 102.72 -9.70% 1-Jun-18 10,714.30 -5.65%
1-May-18 126.29 22.95% 1-May-18 10,736.15 0.20%
1-Apr-18 142.91 13.16% 1-Apr-18 10,739.35 0.03%
1-Mar-18 137.75 -3.61% 1-Mar-18 10,113.70 -5.83%
1-Feb-18 154.76 12.35% 1-Feb-18 10,492.85 3.75%
1-Jan-18 163.41 5.59% 1-Jan-18 11,027.70 5.10%
1-Dec-17 178.28 9.10% 1-Dec-17 10,530.70 -4.51%
1-Nov-17 168.95 -5.23% 1-Nov-17 10,226.55 -2.89%
1-Oct-17 188.73 11.71% 1-Oct-17 10,335.30 1.06%
1-Sep-17 167.44 -11.28% 1-Sep-17 9,788.60 -5.29%
1-Aug-17 172.01 2.73% 1-Aug-17 9,917.90 1.32%
1-Jul-17 197.09 14.58% 1-Jul-17 10,077.10 1.61%
1-Jun-17 190.9 -3.14% 1-Jun-17 9,520.90 -5.52%
1-May-17 197.67 3.55% 1-May-17 9,621.25 1.05%
1-Apr-17 209.17 5.82% 1-Apr-17 9,304.05 -3.30%
 COVARIANCE(Stock's return,market return)
VARIANCE(Market Return)

covariance 0.00116467726696448
variance 0.0118232685194923

Beta= covariance/variance

Beta 0.0985

Market Return 12.36%

RISK FREE RATE 6.82%
COST OF EQUITY RISK FREE RATE+ BETA*(MARKET RETURN-RISK FREE RATE)

COST OF EQUITY 7.37%

Chart Title
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%

f(x) = 0.098507216092094 x − 0.00%

0.00885538596062463
- 30.00% - 20.00% -10.00% 0.00% 10.00% 20.00% 30.00%
-5.00%
-10.00%
-15.00%
JK Lakshmi NIFTY
DATE Adj Close Company's Return DATE Adj Close Market's Return
1-Mar-22 442.25 1-Mar-22 16,663.00
1-Feb-22 448.3 1.37% 1-Feb-22 16,793.90 0.79%
1-Jan-22 562.45 25.46% 1-Jan-22 17,339.85 3.25%
1-Dec-21 579.15 2.97% 1-Dec-21 17,354.05 0.08%
1-Nov-21 635.4 9.71% 1-Nov-21 16,983.20 -2.14%
1-Oct-21 614.55 -3.28% 1-Oct-21 17,671.65 4.05%
1-Sep-21 617.55 0.49% 1-Sep-21 17,618.15 -0.30%
1-Aug-21 704.92 14.15% 1-Aug-21 17,132.20 -2.76%
1-Jul-21 687.87 -2.42% 1-Jul-21 15,763.05 -7.99%
1-Jun-21 573.95 -16.56% 1-Jun-21 15,721.50 -0.26%
1-May-21 538.9 -6.11% 1-May-21 15,582.80 -0.88%
1-Apr-21 400.52 -25.68% 1-Apr-21 14,631.10 -6.11%
1-Mar-21 430.1 7.39% 1-Mar-21 14,690.70 0.41%
1-Feb-21 370.53 -13.85% 1-Feb-21 14,529.15 -1.10%
1-Jan-21 316.14 -14.68% 1-Jan-21 13,634.60 -6.16%
1-Dec-20 338.46 7.06% 1-Dec-20 13,981.75 2.55%
1-Nov-20 329.02 -2.79% 1-Nov-20 12,968.95 -7.24%
1-Oct-20 288.39 -12.35% 1-Oct-20 11,642.40 -10.23%
1-Sep-20 255.72 -11.33% 1-Sep-20 11,247.55 -3.39%
1-Aug-20 260.25 1.77% 1-Aug-20 11,387.50 1.24%
1-Jul-20 292.22 12.28% 1-Jul-20 11,073.45 -2.76%
1-Jun-20 252 -13.76% 1-Jun-20 10,302.10 -6.97%
1-May-20 239.76 -4.86% 1-May-20 9,580.30 -7.01%
1-Apr-20 198.15 -17.35% 1-Apr-20 9,859.90 2.92%
1-Mar-20 192.54 -2.83% 1-Mar-20 8,597.75 -12.80%
1-Feb-20 302.3 57.01% 1-Feb-20 11,201.75 30.29%
1-Jan-20 349.23 15.52% 1-Jan-20 11,962.10 6.79%
1-Dec-19 274.9 -21.28% 1-Dec-19 12,168.45 1.73%
1-Nov-19 285.62 3.90% 1-Nov-19 12,056.05 -0.92%
1-Oct-19 285.57 -0.02% 1-Oct-19 11,877.45 -1.48%
1-Sep-19 297.38 4.14% 1-Sep-19 11,474.45 -3.39%
1-Aug-19 319.51 7.44% 1-Aug-19 11,023.25 -3.93%
1-Jul-19 327.91 2.63% 1-Jul-19 11,118.00 0.86%
1-Jun-19 335.71 2.38% 1-Jun-19 11,788.85 6.03%
1-May-19 379 12.90% 1-May-19 11,922.80 1.14%
1-Apr-19 364.67 -3.78% 1-Apr-19 11,748.15 -1.46%
1-Mar-19 341.26 -6.42% 1-Mar-19 11,623.90 -1.06%
1-Feb-19 322.7 -5.44% 1-Feb-19 10,792.50 -7.15%
1-Jan-19 290.26 -10.05% 1-Jan-19 10,830.95 0.36%
1-Dec-18 289.08 -0.41% 1-Dec-18 10,862.55 0.29%
1-Nov-18 268.08 -7.26% 1-Nov-18 10,876.75 0.13%
1-Oct-18 262.14 -2.22% 1-Oct-18 10,386.60 -4.51%
1-Sep-18 298.26 13.78% 1-Sep-18 10,930.45 5.24%
1-Aug-18 321.92 7.93% 1-Aug-18 11,680.50 6.86%
1-Jul-18 331.27 2.90% 1-Jul-18 11,356.50 -2.77%
1-Jun-18 301.99 -8.84% 1-Jun-18 10,714.30 -5.65%
1-May-18 354.39 17.35% 1-May-18 10,736.15 0.20%
1-Apr-18 399.49 12.73% 1-Apr-18 10,739.35 0.03%
1-Mar-18 453.4 13.49% 1-Mar-18 10,113.70 -5.83%
1-Feb-18 415.65 -8.33% 1-Feb-18 10,492.85 3.75%
1-Jan-18 403.26 -2.98% 1-Jan-18 11,027.70 5.10%
1-Dec-17 431.95 7.11% 1-Dec-17 10,530.70 -4.51%
1-Nov-17 400.52 -7.28% 1-Nov-17 10,226.55 -2.89%
1-Oct-17 423.73 5.79% 1-Oct-17 10,335.30 1.06%
1-Sep-17 378.68 -10.63% 1-Sep-17 9,788.60 -5.29%
1-Aug-17 415.88 9.82% 1-Aug-17 9,917.90 1.32%
1-Jul-17 448.19 7.77% 1-Jul-17 10,077.10 1.61%
1-Jun-17 472.97 5.53% 1-Jun-17 9,520.90 -5.52%
1-May-17 480.01 1.49% 1-May-17 9,621.25 1.05%
1-Apr-17 456.55 -4.89% 1-Apr-17 9,304.05 -3.30%
 COVARIANCE(Stock's return,market return)
VARIANCE(Market Return)

covariance 0.00436962352500433
variance 0.015867404978984

Beta= covariance/variance

Beta 0.2754

Market Return 12.36%

RISK FREE RATE 6.82%
COST OF EQUITY RISK FREE RATE+ BETA*(MARKET RETURN-RISK FREE RATE)

COST OF EQUITY 8.35%

Chart Title
35.00%
30.00%
25.00%
20.00%
15.00%
f(x) = 0.275383626421068 x − 0.0104196075599613
10.00%
5.00%
0.00%
- 40.00% -20.00% 0.00% 20.00% 40.00% 60.00% 80.00%
-5.00%
-10.00%
-15.00%