Shares of Varun Beverages fall as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 1060.4.
Shares of . slipped 0.36 per cent to Rs 1396.5 in Wednesday's trade as of 02:09PM (IST). It hit a high of Rs 1408.95 and low of Rs 1379.0 during the session.The stock quoted a 52-week high price of Rs 1560.3 and a low of Rs 665.22. The return on equity for the stock stood at 29.64 per cent. About 47,607 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.34.
The scrip has been an outperformer, up 105.35 per cent in the past one year in comparison with a 25.57 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 665.22 on March 27, while the 50-DMA was at Rs 1376.72. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.
Promoter/FII Holding
Promoters held 63.09 per cent stake in . as of 31-Dec-2023. Mutual funds and foreign institutional investors held 2.31 per cent and 26.58 per cent stake.
Source: Stocks-Markets-Economic Times
