An Examination of the Impact of New Product Announcements on Stock Prices: Evidence from the Indian Automobile Sector

Registration ID: IJNRD_204891

Published ID: IJNRD2309021

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Anitha BM D silva , Rehan Faisal Qadri , Kalavala Abhishta , M Luqman Nawaz

Cumulative Abnormal Returns, New Product Releases, Event Research, Automobile Sector.

New products are frequently viewed as being essential to any organization's future success. A company can gain a competitive edge by creating, producing, and selling new and creative products. Especially in an evergreen industry like the automobile sector. Once new items have been introduced and made available to the target market, it is possible to reliably estimate their impact on both the top and bottom lines. However, when a new product is announced, the stock price can initially reflect the significance of the new product to the organisation and the sentiment of the stakeholders. The current study examines how the Indian automobile industry's new product releases were received by the market. 23 new products were announced in total between 2017 and 2022. The study has looked at 3 distinct automotive manufacturers in India. To determine if cumulative abnormal returns accrue to the firm when announcements of new product launches are made, the conventional event research approach has been applied. The study's findings imply that, in terms of specific manufacturers, the market response to various new product launches can be characterized as a mixed bag. On the announcement date in two segments of (-10,+10) and (-20, +20) event window. The study shows a positive CAR for M&M, while negative for Tata and MSIL. However, the overall CAR comes out as negative.

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Anitha BM D silva, Rehan Faisal Qadri, Kalavala Abhishta, & M Luqman Nawaz (September-2023). An Examination of the Impact of New Product Announcements on Stock Prices: Evidence from the Indian Automobile Sector. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(9), a159-a172. https://ijnrd.org/papers/IJNRD2309021.pdf

Volume 8 Issue 9, September-2023

Pages : a159-a172

Paper Reg. ID: IJNRD_204891

Published Paper Id: IJNRD2309021

Downloads: 000121986

Research Area: Management

Country: Bengaluru, Karnataka, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2309021.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2309021

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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