Published Paper Details:

Quarterly results are an important factor for studying the movement of share prices in the stock market. The aim is to find out the impact of Quarterly Results on the Share Prices of the companies listed in the S&P BSE AUTO index. The need of the study arises due to the recent wide fluctuations in the Stock Prices of the automotive industry in India. The scope is confined to 13 companies listed under S&P BSE AUTO index for second Quarter of the financial year 2014-2015. The independent sample T-Test was applied to find out the significant difference between the Share Prices before and after the quarterly result announcement. The Correlation between the Share Price and Sensex is analyzed to understand the real effect of quarterly results on the Share Prices. The returns from the Share Prices and the returns from the Sensex were calculated to find out the nature of returns. Secondary data was collected from the BSE Website for the purpose of the study. For T-Test, 10 out of 13 companies showed significant difference between the Share Prices before and after the quarterly result announcement. 10 out of 13 companies showed significant relationship between the Share Price and Sensex movements. The returns of Share Prices and Sensex when compared showed abnormality for all the companies except Bajaj Autos. Nine companies showed the impact of quarterly result announcement on their Share Prices. Two companies showed an impact due to the movement of Sensex and two because of other macroeconomic factors. Therefore, the study concludes that the Quarterly Result announcement had an impact on the Share prices of the companies.