Impact on Stock Market Performance for the Companies that Contributed to the Chandrayaan-3 Project
DOI:
https://doi.org/10.17010/ijrcm/2024/v11i2/174178Keywords:
stock market
, Tobin Q ratio, technical analysis, investment, valuation, risk.JEL Classification Codes
, G1, G110, G10, G11Paper Submission Date
, January 15, 2024, Paper sent back for Revision, May 18, Paper Acceptance Date, May 30, 2024Abstract
Purpose : The study focused on the performances and investment opportunities of the companies that contributed to the Chandrayaan 3 Project.
Methodology : The study was conducted for the 10 companies that contributed to Chandrayaan 3. The six months’ stock prices from February 2023 to August 2023 were taken for the study. The research design was descriptive. We analyzed the data using tools like Tobin’s Q ratios, moving averages, RSI, MACD, candlestick charts, and parabolic SAR.
Findings : The study showed the investment opportunities in the 10 companies, the future forecast, and the growth level of the stock prices. Tobin’s Q ratio results in the overvaluation or undervaluation of a company’s physical assets, which helps to identify the buy and sell strategies of these companies’ assets.
Practical Implications : The study suggested that the technical tools help the investors to identify better investment opportunities in the company’s equity based on the market risk exposure.
Originality : The study was performed to know how far the launch of Chandrayaan 3 has implications on the stock price movements of the companies that contributed to the Chandrayaan 3 Project.
Downloads
Published
How to Cite
Issue
Section
References
Almeida, L., & Vieira, E. (2023). Technical analysis, fundamental analysis, and Ichimoku dynamics: A bibliometric analysis. Risk, 11(8), 142. https://doi.org/10.3390/risks11080142
Anh, D. L., & Gan, C. (2021). The impact of the COVID-19 lockdown on stock market performance: Evidence from Vietnam. Journal of Economic Studies, 48(4), 836–851. https://doi.org/10.1108/JES-06-2020-0312
Chancharat, N., & Kumpamool, C. (2022). Working capital management, board structure, and Tobin's q ratio of Thai listed firms. Managerial Finance, 48(4), 541–566. https://doi.org/10.1108/MF-08-2021-0361
Chand, T. (2022). A study on retail investors' awareness of stock market investments in Delhi-NCR. Indian Journal of Research in Capital Markets, 9(4), 49–56. https://doi.org/10.17010/ijrcm/2022/v9i4/172662
Chandrappa, P. K., & Triveni, P. (2017). A study on the relevance of technical analysis in detecting trading signals in Indian equity markets. i-Manager's Journal on Management, 12(2), 61–68. https://doi.org/10.26634/jmgt.12.2.13730
Dumiter, F. C., Turcaș, F., Nicoară, Ș. A., Bențe, C., & Boiță, M. (2023). The impact of sentiment indices on the stock exchange—The connections between quantitative sentiment indicators, technical analysis, and stock market. Mathematics, 11(14), 3128. https://doi.org/10.3390/math11143128
Ku, C. S., Xiong, J., Chen, Y.-L., Cheah, S. D., Soong, H. C., & Por, L. Y. (2023). Improving stock market predictions: An equity forecasting scanner using long short-term memory method with dynamic indicators for Malaysia stock market. Mathematics, 11(11), 2470. https://doi.org/10.3390/math11112470
Lohan, S., Sidhu, A., & Kakran, S. (2023). Impact of investors' Attention on the global stock market: A bibliometric analysis. Indian Journal of Finance, 17(10), 21–42. https://doi.org/10.17010/ijf/2023/v17i10/170881
McLaughlin, K. (2022, April 6). Covid-19: Implications for business. McKinsey. https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/covid-19-implications-for-business.
Nakhli, M. S., Dhaoui, A., & Chevallier, J. (2021). Bootstrap rolling-window Granger causality dynamics between momentum and sentiment: Implications for investors. Annals of Finance, 18(2), 267–283. https://doi.org/10.1007/s10436-021-00399-z
Qadri, S. U., Raza, M., Qadri, S., Mahmood, S., Ye, C., Rauf, F., Taqi, M., & Hossain, M. S. (2023). Overflow effect of COVID-19 pandemic on stock market performance: A study based on growing economy. Discrete Dynamics in Nature and Society, 2023, Article ID 9536571. https://doi.org/10.1155/2023/9536571
Routh, B. (2023). Integration between stock market returns and interest rate and its impact on inflation: Empirical evidence from five countries. Indian Journal of Research in Capital Markets, 10(1), 15–33. https://doi.org/10.17010/ijrcm/2023/v10i1/172588
Salehi, M. (2009). Tobin's Q model and cash flows from operating and investing activities in listed companies in Iran. Zagreb International Review of Economics & Business, 12(1), 71–82.
Sharma, C., Singh, A., & Yadav, R. (2023). Market warnings: Learning from the short-term impact of COVID-19 on stock market constituents. Indian Journal of Finance, 17(4), 45–57. https://doi.org/10.17010/ijf/2023/v17i4/170094
Sum, V. (2014). Dynamic effect of Tobin's Q on price-to-earnings ratio. Managerial Finance, 40(6), 634–643. https://doi.org/10.1108/MF-07-2013-0193
Tohidi, M. (2022). Market sentiment and stock market volatility: Evidence from Tehran Stock Exchange. Iranian Journal of Management Studies, 15(4), 701–720. https://doi.org/10.22059/IJMS.2021.312151.674267
Veeravel, V., Karthikeyan, K., & Remiya, P. R. (2021). Is the Indian stock market affected by COVID-19? : Evidence from cases or fatalities. Indian Journal of Research in Capital Markets, 8(3), 52–61. https://doi.org/10.17010/ijrcm/2021/v8i3/167957
Yang, J., Wang, Y., & Li, X. (2022). Prediction of stock price direction using the LASSO-LSTM model combines technical indicators and financial sentiment analysis. PeerJ Computer Science, 8, Article ID e1148. https://doi.org/10.7717/peerj-cs.1148
