REGRESSION ANALYSIS

YEAR SHARE PRICE(Y) NET REVENUE (X1) REPO RATE (X2) CORPORATE TAX(X3)
2010 83.38 18,567.45 5.63 33.99
2011 112.6 21,167.58 6.75 32.44
2012 134.2 24,798.43 6.75 32.45
2013 182.27 29,605.58 7.50 33.99
2014 209.8 32,882.56 8.00 33.99
2015 240.07 36,083.21 7.38 34.61
2016 209.1 36,475.27 6.25 34.61
2017 249.65 39,641.91 6.00 34.61
2018 281.25 40,254.67 6.25 34.61
2019 279.2 44,432.67 5.40 25.17
2020 163.2 45,136.80 4.00 25.17
2021 201.5 45,111.81 4.00 25.17

Model Summary
Change Statistics
Adjusted R Std. Error of R Square Sig. F
Model R R Square Square the Estimate Change F Change df1 df2 Change
a
1 .928 .861 .809 27.67849 .861 16.531 3 8 .001
a. Predictors: (Constant), Corporate Tax, Net Revenue, Repo Rate

ANOVAa
Sum of
Model Squares df Mean Square F Sig.
1 Regression 37993.432 3 12664.477 16.531 .001b
Residual 6128.791 8 766.099
Total 44122.223 11
a. Dependent Variable: Share Price
b. Predictors: (Constant), Corporate Tax, Net Revenue, Repo Rate

Coefficientsa
Model Unstandardized Standardized t Sig. 95.0% Confidence Interval for B
Coefficients Coefficients
 B Std. Error Beta Lower Bound Upper Bound
1 (Constant) -
-319.853 105.562 .016 -563.279 -76.428
3.030
Net .005
.008 .001 1.121 6.963 .000 .010
Revenue
Repo Rate 21.268 10.663 .425 1.994 .081 -3.322 45.857
Corporate
3.774 3.465 .240 1.089 .308 -4.217 11.764
Tax
a. Dependent Variable: Share Price

Significant
Not Significant

Not Significant

ANALYSIS OF THE FINDINGS

After analyzing the result of the regression, we find that the Coefficient of determination ( R2) value to be
0.861 or 86.1%, that is the variability between the dependent and independent variable is strong or share
price of ITC Ltd. accounts for 86.1% of variance with its Net Revenue and the Repo rate and corporate
tax rate. The F significance level came 0.001 that is less than 0.05, if we consider the 95% significance
level. So, the regression model is overall significant. However, by analyzing the independent factors
separately, we see that the Net revenue is a statistically significant contributor to the change in share
price of ITC, whereas the other two variables Repo rate and Corporate tax rate both of which came more
than 0.05, so it is not a significant contributor for the change in share price of ITC Ltd.