Grand Foundry Beta
What is the Beta of Grand Foundry?
The Beta of Grand Foundry Ltd. is -1.02
What is the definition of Beta?
BETA indicates whether a stock is more or less volatile than the market as a whole. A beta less than 1 indicates that the stock is less volatile than the market, while a beta more than 1 indicates that the stock is more volatile. Volatility is measured as the fluctuation of the price around the mean.
Beta is a measure of the risk arising from exposure to general market movements as opposed to idiosyncratic factors. The market portfolio of all investable assets has a beta of exactly 1. A beta below 1 can indicate either an investment with lower volatility than the market, or a volatile investment whose price movements are not highly correlated with the market. A beta greater than one generally means that the asset both is volatile and tends to move up and down with the market. Beta is important because it measures the risk of an investment that cannot be reduced by diversification. It does not measure the risk of an investment held on a stand-alone basis, but the amount of risk the investment adds to an already-diversified portfolio. In the capital asset pricing model, beta risk is the only kind of risk for which investors should receive an expected return higher than the risk-free rate of interest.
Beta of companies in the Materials sector on NSE compared to Grand Foundry
What does Grand Foundry do?
Grand Foundry Limited manufactures, markets, and sells stainless steel bright bars and wires in India, the United States, Japan, Singapore, Italy, Australia, and Canada. The company's products are used in various applications in the petrochemical, oil and natural gas, and automotive industries. It also offers pickling and heat treatment line services. Grand Foundry Limited was incorporated in 1973 and is based in Mumbai, India.
Companies with beta similar to Grand Foundry
- Far East Hotels and Entertainment has Beta of -1.04
- Sportking India has Beta of -1.04
- Signet International has Beta of -1.03
- Hing Ming has Beta of -1.02
- China Hongguang has Beta of -1.02
- GB Global has Beta of -1.02
- Grand Foundry has Beta of -1.02
- Hornbeck Offshore Services has Beta of -1.01
- Humanigen has Beta of -1.01
- Eco Depot Inc has Beta of -1.01
- Carnival International has Beta of -1.01
- O Sorbet D'amour SA has Beta of -1.00
- LiteLink Technologies has Beta of -1.00