Varun Beverages shares rise 0.23% as Nifty drops
Varun Beverages Ltd. traded 0.23 per cent up at Rs 1519.3 on Friday at around 12:33PM (IST), while the benchmark BSE Sensex declined 624.5 points to 73986.61.
As many as 23,422 shares changed hands on the counter with a total value of Rs 3.54 crore.
The stock quoted a 52-week high price of Rs 1560.3 and a 52-week low of Rs 712.47.
On the technical charts, the 200-DMA of the stock stood at Rs 1133.07, while 50-DMA was at Rs 1435.01. 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 112.58 per cent in the past one year, while Sensex has risen 23.66 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 91.08 and a price-to-book ratio of 23.16. 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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