Varun Beverages shares rise 0.22% as Nifty gains
Varun Beverages Ltd. traded 0.22 per cent up at Rs 901.1 on Monday at around 01:25PM (IST), while the benchmark BSE Sensex advanced 283.53 points to 65232.19. As many as 20,117 shares changed hands on the counter with a total value of Rs 180.0 crore.
The stock quoted a 52-week high price of Rs 934.5 and a 52-week low of Rs 454.0. On the technical charts, the 200-DMA of the stock stood at Rs 710.82, while 50-DMA was at Rs 820.91. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up.
On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere. Shares of the company have advanced 82.29 per cent in the past one year, while Sensex has risen 9.37 per cent during the same period. According to BSE data, the stock trades at a price-to-earnings multiple of 62.35 and a price-to-book ratio of 16.84.
A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the FMCG Food & Beverages industry.
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