Did Lockdown Affect Stock Returns of Airline Sector in India ?
Creators
- 1. Assistant Professor, Department of Commerce, St. Xavier's University, Kolkata (West Bengal), India.
- 2. Department of Commerce, St. Xavier's University, Kolkata (West Bengal), India.
Contributors
Contact person:
- 1. Assistant Professor, Department of Commerce, St. Xavier's University, Kolkata (West Bengal), India.
Description
Abstract: In this study, we will analyze the impact of lockdown on stock returns of airline industry in India. For this purpose, market model of event study methodology is used. The event window of 21 days have been taken to show the impact on stock returns due to announcement of lockdown. We will also understand how investors react at the time of fall in the stock market in terms of one industry and the impacts of lockdown in the economy of India. We will investigate into the impact of the first lockdown on returns, abnormal returns and cumulative abnormal returns for all three companies of the airline sector viz., GLOBALVECT.BO, SPICEJET.BO and INDIGO.BO. Data for this research was obtained from the official website of National Stock Exchange (NSE) . Conclusions were drawn based on this data and it was found that the lockdown had a more significant impact on abnormal returns of Indigo compared to that of Spice Jet and Global Vectra. Further, it can be inferred that the impact of lockdown on the average abnormal return and the cumulative average abnormal returns of the airline sector was highly significant, which displayed more volatility in stock prices.
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- Is cited by
- Journal article: 2582-9378 (ISSN)
References
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Subjects
- ISSN: 2582-9378 (Online)
- https://portal.issn.org/resource/ISSN/2582-9378#
- Retrieval Number: 100.1/ijef.D2516111422
- https://www.ijef.latticescipub.com/portfolio-item/d2516111422/
- Journal Website: www.ijef.latticescipub.com
- https://www.ijef.latticescipub.com/
- Publisher: Lattice Science Publication (LSP)
- https://www.latticescipub.com