• Dr. S. Kamaleshwar Rao
• K. Hanumantha Rao

Capital Markets facilitate trading of securities executing liquidity and pricing the securities. The capital market efficiency is the ability of the securities reflecting and incorporating all the relevant information instantaneously and unbiased. Three descriptions of capital market efficiency can be discerned basing on the information available. The weak form of efficiency is referred to as the random walk hypothesis. Prices could be greater than or less than the true value ie : there is an like chance that the share prices are either undervalued or overvalued at any given time and the variations and no correlation exists compared to any observable variable. In the present study, randomness of share price has been tested for two Indian life insurance companies namely SBI Life Insurance Co. Ltd and ICICI Prudential Life Insurance Co. Ltd. The share prices on every Fortnight Tuesday have been taken from internet between the dates 3rd October 2017 to 5th March 2019 from BSE index. Though ICICI had issued shares through IPO on 29th September 2016, for the present study the first date had been taken the same for comparison (3rd October 2017). One sample run test has been applied. It has been found the arrangement of change in share price was random.

capital market, capital market efficiency, random walk, share price, BSE index

"MARKET EFFICIENCY OF SELECTED INIDAN LIFE INSURANCE COMPANIES ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.275-277, March-2019, Available :http://www.jetir.org/papers/JETIR1903C38.pdf

"MARKET EFFICIENCY OF SELECTED INIDAN LIFE INSURANCE COMPANIES ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp275-277, March-2019, Available at : http://www.jetir.org/papers/JETIR1903C38.pdf