Varun Beverages shares rise 0.77 per cent in Monday's trading session

Shares of Varun Beverages Ltd. rose 0.77 per cent to Rs 925.2 in Monday's trade as of 11:11AM (IST) even as the benchmark Nifty ruled at 19619.9, down 54.35 points.

The scrip had closed at Rs 918.1 in the previous session. The stock quoted a 52-week low of Rs 481.67 and a high of Rs 941.6. The company quoted a market-cap of Rs 119871.32 crore on the BSE.

On BSE, 14,868 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 63.81 times its trailing 12-month EPS of Rs 14.46 per share and 16.84 times its book value. The return on equity (ROE) stood at Rs 29.34.

Key Financials
For the quarter ended 30-Jun-2023, Varun Beverages Ltd. reported consolidated sales of Rs 5653.0 crore, up 13.85 per cent from the same quarter a year ago. The company reported 26.21 per cent YoY growth in net profit at Rs 993.81 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Monday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.