Varun Beverages shares up 2.12% as Nifty drops
Varun Beverages Ltd. traded 2.12 per cent up in Wednesday's trade at 12:41PM (IST). Around 203,082 shares changed hands on the counter.
The scrip opened at Rs 806.05 and touched an intraday high and low of Rs 829.0 and Rs 801.45, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 873.57 and a 52-week low of Rs 393.12.
As per BSE, the total market cap of the Varun Beverages Ltd. stood at Rs 106527.52 crore at the time of writing this report.Key Financials The company reported consolidated net sales of Rs 3903.11 crore for the quarter ended 31-Mar-2023, up 75.54 per cent from previous quarter's Rs 2223.48 crore and up 37.63 per cent from the year-ago quarter's Rs 2835.98 crore. The net profit for latest quarter stood at Rs 429.07 crore, up 68.79 per cent from the corresponding quarter last year.Shareholding pattern As of 31-Mar-2023, DIIs held 2.71 per cent stake in the firm, while foreign institutional investors held 26.0 per cent and the promoters 63.9 per cent.Valuation ratio According to BSE data, the stock traded at a P/E multiple of 63.7 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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