Varun Beverages shares gain 1.42% as Sensex rises
Varun Beverages Ltd. traded 1.42 per cent higher in Tuesday's session at 11:26AM (IST).
The stock opened at Rs 812.55 and has touched an intraday high and low of Rs 824.4 and Rs 807.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 873.57 and a 52-week low of 408.97.
About 17,586 shares changed hands on the counter so far. Benchmark Nifty50 was up 142.4 points at 19498.3, while the BSE Sensex traded 478.88 points higher at 65823.05 at the time of writing of this report.
In the Nifty pack, 44 stocks traded the day in the green, while 6 were in the red.Key Financials For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 3903.11 crore, up 75.54 per cent from the previous quarter's Rs 2223.48 crore and up 37.63 per cent from the year-ago quarter. The company reported net profit of Rs 429.07 crore for the latest quarter.Promoter Holdings Promoters held 63.9 per cent stake in the company as of 31-Mar-2023, while FIIs held 26.0 per cent and MFs 2.71 per cent.Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 669.08 on July 11, while the 50-DMA was at Rs 800.06.
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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