Published Paper Details:

The financial market always increases or decreases due to some information. At present, stock markets have been showing extremely unpredictable movement, which is only due to new pieces of information, and news or events. The economy of any country is evaluated by the stock market and this stock market depends on factors such as, politics, Taxation policy, inflation, interest rate, exchange rate, GDP, GNP, changes in ruling parties, elections, etc. On July 1st, 2017, India reached a significant milestone with the implementation of the Goods and Services Tax (GST). This momentous occasion signified a historic moment in the nation's history, bringing to fruition a 14-year endeavor that began in December 2002 when the Kelkar Task Force on indirect taxes recommended a comprehensive GST framework grounded in the value-added tax principle. This paper analyses the share price performance around National elections in India for short term over period of 3, 5, 7, 15 days pre post period over the implementation of GST. We investigate shareholders' returns around national elections for 50 companies of NSE NIFTY, NIFTY NEXT50, MIDCAP50 AND SMALLCAP 100. Stock prices have been observed over different event windows for the short term like (-3, +3), (-5, +5), (-7, +7) (-15, +15) days around the event date (election date). SPSS software has been used to analyze the data and the test applied is paired T-test.