DR ANINDITA BHATTACHARJEE

RESEARCH INTERESTS

Broad areas:
• Modeling and simulation
• Quantitative Finance
• Econophysics
Specific areas:
• Modelling Financial data
• Analysing time series and forecast
• Exploring and characterizing capital market

Scopus Publications

Market persistence amidst financial crisis: an Indian investigation
Anindita Bhattacharjee, Jaya M. Prosad, and Bikramaditya Ghosh
Informa UK Limited



Market devotion: understanding the Ram Mandir event influence on the Indian stock market using event study method
Richa Goel, Anindita Bhattacharjee, Neeru Sidana, Tilottama Singh, and Manleenjot Kaur
Informa UK Limited



Russia–Ukraine war and the impact on Indian economy
Anindita Bhattacharjee, Dolly Gaur, and Kanishka Gupta
Emerald
PurposeIndia is not geographically close to either Russia or Ukraine. However, India's trade relations with them make it vulnerable to the consequences of the war between these countries. Thus, the present study aims to examine the impact of the Russia–Ukraine war on various sectoral indices of the Indian economy.Design/methodology/approachEvent study methodology has been used in this study for analysis. The date of the war announcement is the event day. The sample studied includes ten sectors of the Indian economy listed on the National Stock Exchange (NSE). Results correspond to the period of −167 days to +20 days of the announcement of the war, i.e. from June 25, 2021, to March 28, 2022.FindingsAlmost all the sample sectors earned significantly positive abnormal returns in the post-event period. The metal industry has led this group by showcasing the highest abnormal returns. Though Indian sectors made overall positive returns, the market soon corrected itself and abnormal returns were wiped out.Practical implicationsThese results can benefit portfolio managers, analysts, investors and policymakers in hedging risks and selecting suitable investments during increased global uncertainty. The study's conclusions help policymakers establish an institutional and supervisory framework that will make it easier to spot systematic risks and reduce them by putting countercyclical measures in place.Originality/valueIndia has no geographical proximity or trade relations with Russia or Ukraine, as strong as any other European country. However, Russia has remained a strong ally to India in the trade of defense equipment. Similar is the case with Ukraine, a significant global partner for India. Thus, the impact of conflict between these two countries has not been limited to Europe only but has also engulfed related economies. Hence, the present study is one of the first attempts to examine the burns sustained by the Indian economy due to this war.


Cross-border ripples: investigating stock market responses to Israel-Hamas conflict in trading partner nations using event study method
Anindita Bhattacharjee, Neeru Sidana, Richa Goel, Anagha Shukre, and Tilottama Singh
Emerald
PurposeThe study will add to the current discourse on the Israel-Hamas conflict by examining the impact of the war on the stock markets of trading partners. Stock market returns inevitably rise as globalization keeps integrating financial markets and economies around the world. Thus, the impact of war is assessed across a range of indicators that are similar in some way, such as geographic location, political climate or economic standing. Thus, the goal of this study is to investigate how the Israel-Hamas war affects trading partner countries' stock performance.Design/methodology/approachEvent study methodology is applied using Morgan Stanley Capital Index (MSCI) as a benchmark index. The influence of the Israel-Hamas war on the world's major stock markets is evaluated using a market model. The study takes into account Israel and its 23 trading partners. To capture the locational asymmetry in the outcome, the countries are further categorized according to their geographic locations. The official declaration of war came on October 7, 2023, a non-trading day. Consequently, October 9, 2023, is designated as the event day in this study. The data was gathered between January 1, 2023, and December 31, 2023, with an estimation period of 140 days taken into account to minimize bias.FindingsAsymmetric response is shown among the nations due to their economic standing, geographic proximity and trading links with Israel. While Austria, Greece, Egypt, Palestine and Israel had the greatest negative effects, Argentina, Japan and Chile saw significant beneficial effects. The remaining nations had little effect. The market quickly adjusted itself, eliminating anomalous returns.Research limitations/implicationsTaking into account the topic's criticality, the current work has certain limits. The study has used the daily data to limit its reach to the stock market exclusively. In the future, academics can combine high-frequency stock market data with data from other macroeconomic variables, such as currency or different commodities markets, to further their research. Furthermore, a cross-national comparison of the impact in terms of direction and intensity regarding developing global groups such as I2U2, LEVANT, BRICS, MIKTA, SCO, NATO, SAARC and OECD can provide a more comprehensive understanding in this context. To gain insight into the durability and adaptation of financial systems over time, longitudinal studies could be conducted to monitor the long-term effects of geopolitical crises on the stock markets of trading partner countries.Practical implicationsBy better managing investment portfolios and evaluating potential risks associated with trading partners involved in such conflicts, investors and businesses can lessen the impact of geopolitical tensions on stock market performance. These results contribute to our understanding of how geopolitical conflicts affect stock markets.Originality/valueThis research provides an extensive analysis of the global impact of Israel-Hamas tensions on stock market volatility by taking into account trading partners. This allows for the investigation of how various market structures and economic systems react to geopolitical turmoil. The present study is one of the first attempts to look into how disturbances in one region might affect continents to better understand the dynamics of global trade and economic interdependencies.


Impact of Connection Topology in Neuronal Communication
Anindita Bhattacharjee
IEEE
Synchronization of an ensemble of neurons is an emergent phenomenon explaining the complexities of cognitive dynamics. This work intends to understand the mechanism underlying the synchronous behaviour of the interacting neurons. For this purpose, an all-to-all connected network with a combination of inhibitory and excitatory neurons are considered wherein, the strength of the coupling between the neurons is assumed to be randomly distributed. Synchronization parameter is measured by varying the proportion of inhibitory neurons. The intensity of synchrony varies with the proportion of inhibitory neurons. Moreover, the emergence of synchronization transition in the vicinity of equalisation of inhibitory and excitatory neurons is a novel outcome of the cognitive dynamics of coupled neurons. The robustness of this response is tested by varying mean coupling strength and its standard deviation. The findings can be helpful to understand the complex firing behaviour of the biological neurons and provide scope of medical research for physiological and neurological disorders.


COVID-19 and persistence in the stock market: a study on a leading emerging market
Anindita Bhattacharjee, Monomita Nandy, and Suman Lodh
Springer Science and Business Media LLC
AbstractIn this study, we examine how sectors of the National Stock Exchange from India respond to the uncertainties introduced by the COVID-19 pandemic. By examining the synchronization between the sector-specific and overall market index (NIFTY 50) reaction to COVID-19, we contribute to the inconclusive ongoing academic literature regarding the impact of COVID-19 on the stock market, especially in the context of persistence in an emerging market. To analyze the persistence of sectoral indices, we apply multifractal detrended fluctuation analysis (MFDFA). We use the generalized Hurst exponent and singularity spectrum as indicators for persistence and spectral width as a measure of volatility. Our analysis shows that the sample sectoral indices are persistent before and after the announcement of COVID-19; however, volatility in some sectors reduces post-announcement of COVID-19. The findings will enrich the academic literature on the relationship between sector-specific and overall market indexes. In practice, the paper will guide investors to organize their portfolios, especially during future economic uncertainty.


Taming Non-autonomous Chaos in Duffing System Using Small Harmonic Perturbation
Anunay K. Chaudhary, Saureesh Das, Pankaj Narang, Anindita Bhattacharjee, and M. K. Das
Springer Nature Switzerland



A statistical characterization of MCX crude oil price with regard to persistence behavior and seasonal anomaly




Embracing the role of artificial intelligence in accounting and finance: contemplating the changing skillset expectations
Bhumika Gambhir and Anindita Bhattacharjee
Emerald
Purpose The purpose of this paper is to highlight how Artificial intelligence (AI) and its subsets are changing the face of the accounting and finance (A&F) profession. Expectations from A&F professionals are changing due to the expeditious changes in technology. This paper proposes new skill set expectations from these professionals. Design/methodology/approach This is a viewpoint paper based on the opinions/views of the employees working in medium and large organizations in A&F in the United Arab Emirates (UAE). The employee viewpoints were gathered through an emailed questionnaire. Findings This paper illustrates the need to embrace technology and acquire the necessary skills to work in conjunction with machines. This will help A&F professionals to meet the changing expectations of employers. Practical implications This paper emphasizes the usefulness of training, learning, and development of the skills necessary for A&F professionals to work with AI and its subsets. Originality/value This paper discusses how AI will bring in challenges and opportunities in the future. It suggests how A&F professionals can embrace technology (driven by AI) and understand to work with it.


A study on benefit realization by process improvement guidance from CMMI implementation across various organizations
Himani Singh
Institute of Advanced Scientific Research



A study of agile adoption in project management with reference to issues and concern across various industries




Emergent dynamics of spiking neurons with fluctuating threshold
Anindita Bhattacharjee and M.K. Das
Elsevier BV



Synchronization in a ring of unidirectionally coupled fitzhugh-nagumo neurons
ANINDITA BHATTACHARJEE, M. K. DAS, and SUBHENDU GHOSH
World Scientific Pub Co Pte Lt
Synchronization behavior of an ensemble of unidirectionally coupled neurons with a constant input is investigated. Chemical synapses are considered for coupling. Each neuron is also considered to be exposed to a self-delayed feedback. The synchronization phenomenon is analyzed by the error dynamics of the response trajectories of the system. The effect of various model parameters e.g. coupling strength, feedback gain and time delay, on synchronization is also investigated and a measure of synchrony is computed in each cases. It is shown that the synchronization is not only achieved by increasing the coupling strength, the system also required to have a suitable feedback gain and time delay for synchrony. Robustness of the parameters for synchrony is verified for larger systems.


Spike dynamics of FHN neuron with time varying parameters




Electrical noise in cells, membranes and neurons
Subhendu Ghosh, Anindita Bhattacharjee, Jyotirmoy Banerjee, Smarajit Manna, Naveen K. Bhatraju, Mahendra. K. Verma, and Mrinal K. Das
Springer Netherlands

RECENT SCHOLAR PUBLICATIONS

A volume capacity planning-based municipal organic waste composting system
F Roowalla, YB Patil
IN Patent App. IN202,521,014,166 2025



Quality of Life and Climate Change: Impacts, Sustainable Adaptation, and Social-Ecological Resilience
K Shukla, YB Patil, RC Estoque, PA Lpez de Haro
IGI Global 2024



Factors Impacting Adoption of Climate Change Mitigation Strategies in the Indian Iron and Steel Industry
Y Patil, P Singh
Quality of Life and Climate Change: Impacts, Sustainable Adaptation, and 2024



Global Perspectives on the Impact of Climate Change on Quality of Life
K Shukla, YB Patil, RC Estoque, PA Lpez de Haro
Quality of Life and Climate Change: Impacts, Sustainable Adaptation, and 2024



Preface
K Shukla, YB Patil, RC Estoque, PA Lpez de Haro
Quality of Life and Climate Change: Impacts, Sustainable Adaptation, and 2024



Harnessing photocurrent enhancement in silver-bacterial cellulose nanocomposite for ultra-sensitive Hg2+ electrochemical detection
P Deshpande, S Wankar, R Gumathannavar, S Kulkarni, Y Jadhav, Y Patil, ...
Nanocomposites 10 (1), 227-240 2024



Agriculturally important functioning of beneficial microorganisms for healthy ecosystem maintenance
P Singh, M Dhanorkar, Y Patil, V Rale
The Potential of Microbes for a Circular Economy, 149-183 2024



Modelling drivers and barriers of climate change mitigation strategies in Indian iron and steel industry: a TISM-based approach
P Singh, VS Pradhan, YB Patil
Management of Environmental Quality: An International Journal 2024



Effect of biosurfactant on thiocyanate degradation by automobile service station soil isolates Brachybacterium sp. and Bacillus albus
V Kadam, P Singh, Y Patil, O Prakash, N Berawala
Bioremediation Journal 2023



An optical device for detection of hexavalent chromium
A Kulkarni, P Deshpande, U Alset, Y Tiwari, Amit Kumar and Patil
IN Patent 202,321,008,019 2023



Mapping climate change mitigation strategies adopted by industries: An overview from first commitment of Kyoto Protocol (2009-2023)
P Singh, P Mulay, Y Patil
Environmental and Climate Technologies 2023



Bacterial Cellulose: Natural Biomaterial for Medical and Environmental Applications
P Deshpande, S Wankar, S Mahajan, Y Patil, J Rajwade, A Kulkarni
Journal of Natural Fibers 20 (2), 2218623 2023



Microbial population dynamics in Lemnaceae (duckweed) based wastewater treatment system
P Singh, K Jani, S Sharma, V Rale, Y Shouche, S Prakash, P Jogdeo, ...
Current Microbiology 80 (56) 2023



Automobile service station waste assessment and promising biological treatment alternatives: a review
P Singh, N Berawala, Y Patil
Environmental Monitoring and Assessment 194 (753) 2022



Assessing Physicochemical Technologies for Removing Hexavalent Chromium from Contaminated Waters—an Overview and Future Research Directions
N Itankar, Y Patil
Water, Air, & Soil Pollution 233 (355) 2022



Isolation and development of a microbial consortium for the treatment of automobile service station wastewater
P Singh, V Kadam, Y Patil
Journal of Applied Microbiology 132 (2), 1048-1061 2022



Development of novel waste biomass-based sorbing film for smog removal
S Gulia, M Shirolkar, A Kulkarni, N Itankar, Y Patil
Cardiometry 24, 427-437 2022



Eliminating cyanide species from aqueous matrices: An overview on some physical-chemical and nano-based techniques
S Wagholikar, Y Patil
IEEE Xplore, 1-9 2022



Status of WEEE in Pune city (India) and the awareness of residents towards health and sustainability in e-waste management
V Bhat, Y Patil
Urban Solid Waste Management: Issues and Challenges of Sustainability 2021



Employing waste to manage waste: Utilizing waste biomaterials for the elimination of hazardous contaminant [Cr(VI)] from aqueous matrices
N Itankar, Y Patil
Journal of Contaminant Hydrology 239 (103775) 2021

MOST CITED SCHOLAR PUBLICATIONS

Biosurfactant production: emerging trends and promising strategies
P Singh, Y Patil, V Rale
Journal of Applied Microbiology 126 (1), 2-13 2019
Citations: 384



Assessment of noise pollution indices in the city of Kolhapur, India
RB Hunashal, YB Patil
Procedia - Social and Behavioral Sciences 37, 448-457 2012
Citations: 274



Development of a process for biodetoxification of metal cyanides from wastewaters
YB Patil, KM Paknikar
Process Biochemistry 35, 1139-1151 2000
Citations: 206



Role of big data in decision making
S Jeble, S Kumari, Y Patil
Operations and Supply Chain Management 11 (1), 36-44 2018
Citations: 163



Biomanagement of hexavalent chromium: Current trends and promising perspectives
P Singh, N Itankar, Y Patil
Journal of Environmental Management 279 (111547) 2021
Citations: 127



Removal and recovery of metal cyanides using a combination of biosorption and biodegradation processes
YB Patil, KM Paknikar
Biotechnology Letters 21, 913-919 1999
Citations: 109



Development of an integrated model to recover precious metals from electronic scrap - A novel strategy for e-waste management.
V Bhat, P Rao, Y Patil
Procedia - Social and Behavioral Sciences 37, 397-406 2012
Citations: 93



City based analysis of MSW to energy generation in India, calculation of state-wise potential and tariff comparison with EU.
S Saini, P Rao, Y Patil
Procedia - Social and Behavioral Sciences 37, 407-416 2012
Citations: 78



Biodetoxification of silver-cyanide from electroplating industry wastewater.
YB Patil, KM Paknikar
Letters in Applied Microbiology 30, 33-37 2000
Citations: 78



Role of big data and predictive analytics
S Jeble, S Kumari, Y Patil
International Journal of Automation and Logistics 2 (4), 307-331 2016
Citations: 69



E-waste consciousness and disposal practices among residents of Pune city
V Bhat, Y Patil
Procedia-Social and Behavioral Sciences 133, 491-498 2014
Citations: 65



Management of hexavalent chromium from industrial waste using low-cost waste biomass
N Itankar, Y Patil
Procedia-Social and Behavioral Sciences 133, 219-224 2014
Citations: 42



Conceptual frameworks for the drivers and barriers of integrated sustainable solid waste management: A TISM approach
AP Gahana Gopal C, Yogesh B Patil, Shibin K T
Management of Environmental Quality: An International Journal 29 (3), 516-546 2017
Citations: 36



Industrial Waste Management in the Era of Climate Change: A Smart Sustainable Model Based on Utilization of Passive Biomass
Y Patil, P Rao
Handbook of Climate Change Adaptation 4, 2079-2092 2015
Citations: 35



Enablers of sustainable industrial ecosystem: framework and future research directions
S Kumari, YB Patil
Management of Environmental Quality: An International Journal 30 (1), 61-86 2019
Citations: 33



Barriers to technology adoption in agriculture-based industry and its integration into technology acceptance model
S Kumari, S Jeble, YB Patil
International Journal of Agricultural Resources, Governance and Ecology 14 2018
Citations: 26



Studies on biological detoxification of metal-cyanide containing industrial effluents
YB Patil
Ph.D. Thesis, University of Pune, Pune 1999
Citations: 23



Are the non-renewable resource utilization and waste management practices employed in Indian automobile sector sustainable?
S Kulkarni, P Rao, Y Patil
Procedia-Social and Behavioral Sciences 133, 364-371 2014
Citations: 21



Development of a Low-Cost Industrial Waste Treatment Technology for Resource Conservation – An Urban Case Study With Gold-Cyanide Emanated from SMEs
YB Patil
Procedia - Social and Behavioral Sciences 37, 379-388 2012
Citations: 20



Environmental noise pollution of Kolhapur city.
RB Hunashal, Y Patil
Nature Environment and Pollution Technology 10, 39-44 2011
Citations: 17