Published Paper Details:

Abstract The new information to which the investors respond rapidly in the market is created by the efficiency of market, i.e. ability function. Informational efficiency and the analysis on the pattern of series on day-to-day basis of stock price have captured the maximum attention of research area in the field of finance. This research article presents an examination of efficiency of Mid-cap security in Indian stock market in NSE with different indices. It is an attempt to investigate the information efficiency in Mid-cap securities in Indian stock market. The fundamental objective of the study is to verify the informational efficiency of selected indices from NSE - NIFTY Mid-cap 50, NIFTY Mid-cap 100, NIFTY 50. For the purpose of accomplishing the objectives of the current study 3 years of data has been collected from the selected indices of NSE and the time series econometrics tools such as Unit root testing, Random walk modelling, VAR model, Causality model, and impulse response have been applied and results suggests that the Mid-cap securities at Indian stock market are highly inefficient and the price changes are not random.