My question is what is the duration you should be considering for beta calculation? And does it really matter while taking the hedge with future since it is anyway going to be for 30 days max? I have seen that you have said 6 months for the purpose of calculation. Is that a norm / standard … or just a number.

Also, if someone can add pointers to correct Beta values that NSE considers … or Any archive EoD file where Beta values are published?

I suggest you calculate the Beta for 1 year. However, you can calculate both 6 months and 1 years. Ideally, the beta should not have changed (drastically) for these time periods.

I have one more doubt around Investment Amount and I have changed the subject line to reflect the same. Is the Investment Amount for the stock for hedging calculated via -

quantity * average_buy_price
or

quantity * current_price

I am assuming it is the former (quantity * average_buy_price) … but correct me if I am wrong for portfolio value is more correctly represented by (quantity * current_price)