Shares of Varun Beverages fall as Nifty drops

Shares of Varun Beverages Ltd. slipped 0.83 per cent to Rs 918.65 in Monday's trade as of 11:41AM (IST). It hit a high of Rs 927.45 and low of Rs 917.0 during the session.

The stock quoted a 52-week high price of Rs 979.15 and a low of Rs 497.5. The return on equity for the stock stood at 29.34 per cent. About 45,022 shares have changed hands on the counter so far.

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


The scrip has been an outperformer, up 81.56 per cent in the past one year in comparison with a 13.2 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 497.5 on October 23, while the 50-DMA was at Rs 912.28. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 63.1 per cent stake in Varun Beverages Ltd. as of 30-Sep-2023. Mutual funds and foreign institutional investors held 2.22 per cent and 27.55 per cent stake.