Varun Beverages Share Price: Varun Beverages shares gain 0.44% as Sensex falls

Estimated read time 5 min read
Shares of Varun Beverages Ltd. traded 0.44 per cent higher in Tuesday’s session at 11:37AM (IST). The stock opened at Rs 1420.0 and has touched an intraday high and low of Rs 1421.0 and Rs 1396.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1560.3 and a 52-week low of 687.5. About 48,768 shares changed hands on the counter so far.

Benchmark Nifty50 was down 35.1 points at 22426.9, while the BSE Sensex traded 154.92 points lower at 73859.63 at the time of writing of this report.

In the Nifty pack, 20 stocks traded the day in the green, while 30 were in the red.

Key Financials

For the quarter ended 31-Dec-2023, the company reported consolidated sales of Rs 2676.8 crore, down 31.17 per cent from the previous quarter’s Rs 3889.02 crore and down 20.39 per cent from the year-ago quarter. The company reported net profit of Rs 131.97 crore for the latest quarter. Promoter Holdings
Promoters held 63.09 per cent stake in the company as of 31-Dec-2023, while FIIs held 26.58 per cent and MFs 2.31 per cent.

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1069.31 on April 02, while the 50-DMA was at Rs 1385.52. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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