What question did this study set out to answer?

The aim is to validate the theory of value investing in the IT, FMCG, and banking sectors of the Indian capital market.

Value versus growth stocks: sector specific approach in Indian scenario

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Randomized trial analyzes investment performance of value and growth stocks in Indian markets, suggesting insights for investors.

The aim is to validate the theory of value investing in the IT, FMCG, and banking sectors of the Indian capital market.
Classified stocks as value and growth stocks based on eight years of data.
Analyzed monthly returns to assess the performance of the stocks.
Calculated risk-adjusted returns using the CAPM model and tested significance with the Mann-Whitney U test.
Evidence of value premium in the observed data, with a decreasing trend compared to previous studies.

Hedau et al. (2026) studied this question.

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