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    Shares of Varun Beverages rise as Nifty gains

    Synopsis

    On the technical charts, the 200-day moving average of the stock stood at Rs 815.89.

    stock-market-5---GettyGetty Images
    Shares of Varun Beverages Ltd. gained 0.93 per cent to Rs 1063.75 in Friday's trade as of 10:15AM (IST). It hit a high of Rs 1070.7 and low of Rs 1056.05 during the session.

    The stock quoted a 52-week high price of Rs 1074.95 and a low of Rs 550.0. The return on equity for the stock stood at 29.34 per cent. About 16,469 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 81.07 per cent in the past one year in comparison with a 7.06 per cent gain in Sensex.

    Technicals
    On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 550.0 on November 24, while the 50-DMA was at Rs 952.84. 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.
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    Friday, 24 Nov, 2023

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