Share price of Varun Beverages rises as Nifty strengthens
Varun Beverages Ltd. gained 3.26 per cent to Rs 1595.05 in Thursday's trade as of 09:59AM (IST). The stock hit a high price of Rs 1596.0 and low of Rs 1553.4 during the session.
The return on equity (ROE) for the stock stood at 29.64 per cent. Traded volume on the counter stood at 09:59AM shares and turnover at Rs 5.81 crore around that time. The stock of Varun Beverages Ltd. quoted a 52-week high price of Rs 1707.1 and 52-week low prices of Rs 828.2, 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 62.66 per cent stake in the company as of 30-Jun-2024, while foreign investors held 25.32 per cent and domestic institutional investors had 2.42 per cent.
Key Financials The company reported consolidated sales of Rs 7240.89 crore for the quarter ended 30-Jun-2024, up 67.39 per cent from previous quarter's Rs 4325.67 crore and up 28.09 per cent from the year-ago quarter's Rs 5653.0 crore. Net profit after tax for the latest quarter stood at Rs 1252.6 crore, up 26.04 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bullish 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
