Journal
| Title | Random Movement of Stock Prices: A Case Study of Navaratna Companies In India | |
| Author's Name | Aravind M | |
| ISSN | 0974-7281 | |
| Page(s) | 38-55 | |
| Volume No. | 4 | |
| Issue Month | January 2012 | |
| Keywords | Navaratna Companies, Random Walk Theory, Run Test, Stock Market Efficiency | |
| Abstract | The independent stock price movements will indicate the strength and efficiency of any capital market. The emerging markets have witnessed rapid growth and advancements for past two decades. All this time the big wonder witnessed in the emerging markets is the charisma of well performing Public Sector Units. The global financial crisis in 2008 was not much evident in the emerging powers like China and India because of the control exercised by the governments in the key sectors of the economy in these countries. This study is mainly focussed on testing the randomness of price movements of a list of 16 Indian Public Sector Companies elevated by the government by conferring on them‘Navaratna’ status. |
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