Shares of Varun Beverages rise as Nifty gains
Varun Beverages Ltd. gained 0.92 per cent to Rs 923.05 in Friday's trade as of 10:20AM (IST).
It hit a high of Rs 926.9 and low of Rs 915.05 during the session.
The stock quoted a 52-week high price of Rs 941.6 and a low of Rs 481.67. The return on equity for the stock stood at 29.34 per cent.
About 13,513 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 68.68 per cent in the past one year in comparison with a 11.77 per cent gain in Sensex.
Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 481.67 on September 15, while the 50-DMA was at Rs 859.01. 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 63.62 per cent stake in Varun Beverages Ltd. as of 30-Jun-2023.
