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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM65235
Volume:
10 |
6 |
Jun 2026
Pages:
1-10
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Master of Business Administration
MLR institute
Master of Business Administration
MLR institute
This study presents a quantitative and analytical examination of portfolio behaviour within the Indian information technology sector, undertaken with reference to the broking and investment ecosystem of Angel One Limited. Three frontline IT scrips listed on the National Stock Exchange and the Bombay Stock Exchange — Tata Consultancy Services (TCS), Infosys and Wipro — were chosen as the unit of analysis on account of their sectoral leadership and trading depth, which make them suitable candidates for portfolio research. Month-end closing prices spanning April 2025 to March 2026 were collected from authoritative secondary sources and converted into monthly returns to evaluate both the standalone and the combined performance of the selected equities. A multi-factor framework comprising average return, standard deviation, variance, the coefficient of variation, beta, the Sharpe ratio, and an equally weighted portfolio construction was applied to measure return generation, total risk, systematic risk and risk-adjusted efficiency. The findings reveal that all three counters delivered negative average returns over the observation window, with the sharpest erosion concentrated in February and March 2026, signalling adverse conditions across the technology segment. Standard deviation values clustered within a narrow band, indicating broadly comparable volatility, while beta estimates below unity confirmed that each stock was less reactive than the broader market. Negative Sharpe ratios across all three securities demonstrated that the returns generated failed to compensate investors for the risk assumed relative to the risk-free benchmark. Notably, the equally weighted portfolio recorded a standard deviation lower than several of the individual holdings, evidencing a measurable, though restrained, diversification benefit that was constrained by the strong co-movement among sectorally similar stocks. The study concludes that disciplined, multi-factor portfolio analysis is indispensable to informed investing, and that diversification alone cannot neutralise systematic, market-driven risk. The work offers practical guidance for retail investors and for technology-enabled brokerages such as Angel One Limited in aligning instrument selection with risk tolerance, investment horizon and financial objectives.
KEYWORDS
Using a range of financial and statistical techniques, this study examined a portfolio of selected Indian IT firms — Tata Consultancy Services, Infosys and Wipro — to assess their risk and return performance between April 2025 and March 2026. Monthly returns were computed from month-end closing prices obtained from reliable secondary sources, and the standalone and combined behaviour of the stocks was evaluated through average return, standard deviation, the coefficient of variation, beta, the Sharpe ratio and an equally weighted portfolio construction. The analysis revealed that shifting market conditions and economic factors caused the returns of the chosen IT stocks to fluctuate over the period, with each company exhibiting distinct volatility and performance characteristics. The metrics employed clarified both the behaviour of individual stocks and the performance of the portfolio as a whole, and showed that diversification, though beneficial, could not eliminate the systematic, market-driven risk to which the holdings were exposed. Overall, the study concludes that sound investment decisions require thorough, multi-factor portfolio analysis. Before committing funds, investors should carefully weigh both risk and return, monitor market and economic conditions, and maintain a well-diversified portfolio supported by disciplined financial study. A blended approach grounded in the investor's profile, the prevailing market phase and the characteristics of the chosen securities offers the most dependable route to long-term stability and improved investment performance.
• Kiran, G. Sai, and N. Ramanjaneyulu. "A STUDY ON PORTFOLIO MANAGEMENT AT KOTAK MAHINDRA BANK, HYDERABAD." International Journal of Management Research and Business Strategy 15.2 (2025): 58-68. • Malayappan, R. (2025). Construction of optimal portfolios using the Single Index Model across investment horizons. • Kumar, S. (2025). Application of the Capital Asset Pricing Model to the Indian stock market (2008–2024). • Jayaprakash, K., & Loganathan. (2025). Impact of artificial intelligence and digital technologies on Indian stock-market trading and investment decisions. • Balodi, K. C., Raizada, A., & Datta, S. (2024). The rise of discount brokerage businesses in India and their impact on investment behaviour. • Tejesh, H. R., & Khaja Bee, M. (2024). Asset-pricing models and portfolio performance in the Indian stock market. • Ramesh, & Vidhya. (2024). The impact of diversification on portfolio performance in the Indian equity market. • Karthikeyan, M., & Prabhu, R. (2024). Risk and return relationship in selected NSE-listed stocks. • Chitra, A., & Suresh, V. (2023). Performance evaluation of selected mutual-fund portfolios in India. • Balasubramanian, R., & Hariharan, D. (2023). Psychological and financial factors influencing investment decisions and portfolio strategies.
Publication Date
6/20/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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