Share price of Varun Beverages falls as Nifty weakens

Shares of Varun Beverages Ltd. slipped 2.24 per cent to Rs 802.5 in Monday's trade as of 02:14PM (IST). The stock hit a high price of Rs 821.95 and low of Rs 796.15 during the session.

The return on equity (ROE) for the stock stood at 29.34 per cent. Traded volume on the counter stood at 02:14PM shares and turnover at Rs 5.25 crore around that time. The stock of Varun Beverages Ltd. quoted a 52-week high price of Rs 873.57 and 52-week low prices of Rs 358.32, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.34.


Promotor/FII Holding
Promoters held 63.9 per cent stake in the company as of 31-Mar-2023, while FIIs held 26.0 per cent and domestic institutional investors had 2.71 per cent.

Key Financials
The company reported consolidated sales of Rs 3903.11 crore for the quarter ended 31-Mar-2023, up 75.54 per cent from previous quarter's Rs 2223.48 crore and up 37.63 per cent from the year-ago quarter's Rs 2835.98 crore. Net profit after tax for the latest quarter stood at Rs 429.07 crore, up 68.79 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.