Varun Beverages shares gain 0.77% as Sensex falls
Varun Beverages Ltd. traded 0.77 per cent up at Rs 806.75 at 10:00AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 322.46 points to 66136.85. The stock had settled at Rs 800.6 in the previous session.
The stock quoted a 52-week high price of Rs 873.58 and 52-week low of Rs 429.68, respectively. As per BSE data, total traded volume on the counter till 10:00AM (IST) stood at 5593 shares with a turnover of Rs 4506.0 crore. At the prevailing price, shares of the company traded at 62.71 times its trailing 12-month EPS of Rs 12.87 per share and 16.84 times its price-to-book value, BSE 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 63.62 per cent stake in the company as of 30-Jun-2023, while FIIs owned 26.71 per cent and DIIs 2.37 per cent.Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 48.43.
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 cannot give a'buy' or'sell' recommendation using a single valuation ratio.
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