Log

return
Log return on index
sl no Date Close Close Nifty 500 on stock
1 1-Jan-17 131.667 7379.299805
2 1-Feb-17 145.378 7709.100098 0.0991 0.0437
3 1-Mar-17 141.356 7995.049805 -0.0281 0.0364
4 1-Apr-17 158.981 8214.299805 0.1175 0.0271
5 1-May-17 155.25 8350.950195 -0.0237 0.0165
6 1-Jun-17 135.544 8331.599609 -0.1357 -0.0023
7 1-Jul-17 141.281 8793.299805 0.0415 0.0539
8 1-Aug-17 141.863 8694.950195 0.0041 -0.0112
9 1-Sep-17 157.144 8600 0.1023 -0.011
10 1-Oct-17 174.45 9153.599609 0.1045 0.0624
11 1-Nov-17 175.65 9154.5 0.0069 0.0001
12 1-Dec-17 187.369 9490.650391 0.0646 0.0361
13 1-Jan-18 179.475 9697.900391 -0.043 0.0216
14 1-Feb-18 171.562 9261.900391 -0.0451 -0.046
15 1-Mar-18 164.275 8912.099609 -0.0434 -0.0385
16 1-Apr-18 162.55 9496.5 -0.0106 0.0635
17 1-May-18 175.45 9315.349609 0.0764 -0.0193
18 1-Jun-18 170.125 9162.450195 -0.0308 -0.0165
19 1-Jul-18 187.575 9650.599609 0.0976 0.0519
20 1-Aug-18 186.1 9992 -0.0079 0.0348
21 1-Sep-18 189.5 9116 0.0181 -0.0918
22 1-Oct-18 187.125 8753.450195 -0.0126 -0.0406
23 1-Nov-18 171.525 9109.150391 -0.087 0.0398
24 1-Dec-18 180.15 9170 0.0491 0.0067
25 1-Jan-19 166.075 9003.849609 -0.0814 -0.0183
26 1-Feb-19 171 8955.950195 0.0292 -0.0053
27 1-Mar-19 173.825 9663.700195 0.0164 0.0761
28 1-Apr-19 177.975 9664.299805 0.0236 0.0001
29 1-May-19 180.5 9805.049805 0.0141 0.0145
30 1-Jun-19 155.975 9657.950195 -0.146 -0.0151
31 1-Jul-19 128.85 9044.950195 -0.191 -0.0656
32 1-Aug-19 129.8 8977.549805 0.0073 -0.0075
33 1-Sep-19 134.5 9340.900391 0.0356 0.0397
34 1-Oct-19 137.35 9689.650391 0.021 0.0367
35 1-Nov-19 126.05 9813.650391 -0.0859 0.0127
36 1-Dec-19 119.8 9691.150391 -0.0509 -0.0126
beta 0.77431
rsq 0.16215

f(x) = 0.2094185864x + 0.0083550637

R² = 0.1621548149
YEAR DIVIDEND PAID
2004 12
2005 4 -67% Obtained from yahoo finance
2006 15.5 288%
2007 8.5 -45%
2008 6 -29%
2009 9 50%
2010 7.5 -17%
2011 5.5 -27%
2012 8.7 58%
2013 9.6 10%
2014 10.4 8%
2015 6 -42%
2016 5.5 -8%
2017 11.2 104%
2018 9.09 -19%
2019 7.135 -22%

AVERAGE GROWTH RATE ART 16%

AVERAGE GROWTH RATE GEO -3%
share price 121.2 as on 16/12/2019

obtained by dividing latest dividend by

share price
r(equity) 2.480% and adding avg growth rate geometrical
 WACC calculation.

CALCULATING THE COST OF DEBT 2019 2018

current maturity of long term debt - -

long term debt 10269600000 11177900000 Obtained from balance sheet
total debt 10269600000 11177900000
interest paid 1840800000 Obtained from Income stateme

average interest rate(rd) 17% calculated by dividing interest p

Calculating the tax rate 2019 2018

income before tax 98311900000 69231900000 Obtained from Income stateme

income tax expense 32784200000 21228500000 Obtained from Income stateme

Average tax rate 33% 31% obtained by dividing interest ex

Calculating the weighted average cost of capital

cost of equity(re) 2.480%

cost of debt(rd) 17%

#share outstanding 4510000000 obtained from annual report

current share price 121.2 obtained from yahoo finance

market value of equity(E) 5.46612E+11 obtained by multiplying current share price w

value of debt 10269600000 from above long term debt

total equity+debt 5.56882E+11 sum of debt+ equity

percentage of debt 2%
percentage of equity 98%

tax rate 33%

Wacc 2.645630%
 Obtained from balance sheet

Obtained from Income statement

calculated by dividing interest paid by average of total debt

Obtained from Income statement

Obtained from Income statement

obtained by dividing interest expense to income before tax

m annual report

m yahoo finance
multiplying current share price with number of outstanding shares

ong term debt