Varun Beverages shares up 1.57% as Nifty gains
Varun Beverages Ltd. traded 1.57 per cent up in Friday's trade at 10:51AM (IST). Around 24,897 shares changed hands on the counter.
The stock opened at Rs 837.95 and touched an intraday high and low of Rs 838.0 and Rs 826.0, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 873.58 and a 52-week low of Rs 444.85.
Total market cap of the Varun Beverages Ltd. stood at Rs 108393.45 crore at the time of writing this report.Key Financials The company reported consolidated sales of Rs 5653.0 crore for the quarter ended 30-Jun-2023, up 44.83 per cent from previous quarter's Rs 3903.11 crore and up 13.85 per cent from the year-ago quarter's Rs 4965.29 crore. The net profit for latest quarter stood at Rs 993.81 crore, up 26.21 per cent from the corresponding quarter last year.Shareholding pattern As of 30-Jun-2023, domestic institutional investors held 2.37 per cent stake in the company, while foreign institutional investors held 26.71 per cent and the promoters 63.62 per cent.Valuation ratio According to BSE data, the stock traded at a P/E multiple of 57.7 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 is the measure of the price that investors are ready to pay even for no growth in the business. Varun Beverages Ltd.
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