Varun Beverages shares drop 0.36% as Sensex rises
Varun Beverages Ltd. traded 0.36 per cent down at Rs 1429.7 at 11:57AM (IST) on Wednesday, even as BSE benchmark Sensex gained 195.24 points to 74878.94.
The stock had settled at Rs 1434.9 in the previous session. The stock quoted a 52-week high price of Rs 1560.3 and 52-week low of Rs 687.5, respectively. As per BSE data, total traded volume on the counter till 11:57AM (IST) stood at 62838 shares with a turnover of Rs 9.02 crore.
At the prevailing price, the stock traded at 91.32 times its trailing 12-month EPS of Rs 15.82 per share and 23.16 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.34.
Shareholding Details
Promoters held 63.09 per cent stake in the company as of 31-Dec-2023, while FIIs owned 26.58 per cent and DIIs 2.31 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 51.0. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts
