Varun Beverages Share Price: Varun Beverages shares gain 0.58% as Sensex rises

Shares of Varun Beverages Ltd. traded 0.58 per cent higher in Tuesday’s session at 11:21AM (IST). The stock opened at Rs 877.0 and has touched an intraday high and low of Rs 888.0 and Rs 875.55, respectively, during the session so far.

The stock quoted a 52-week high of Rs 934.5 and a 52-week low of 480.0. About 17,913 shares changed hands on the counter so far.

Benchmark Nifty50 was up 19.95 points at 19326.0, while the BSE Sensex traded 42.17 points higher at 65038.77 at the time of writing of this report.

In the Nifty pack, 34 stocks traded the day in the green, while 16 were in the red.

Key Financials

For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 5653.0 crore, up 44.83 per cent from the previous quarter’s Rs 3903.11 crore and up 13.85 per cent from the year-ago quarter. The company reported net profit of Rs 993.81 crore for the latest quarter.

Promoter Holdings
Promoters held 63.62 per cent stake in the company as of 30-Jun-2023, while FIIs held 26.71 per cent and MFs 2.37 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 720.19 on August 29, while the 50-DMA was at Rs 829.84. 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.