As of September 19 at 12:01 PM, Varun Beverages shares are trading at ₹638.60, reflecting a decrease of 1.21% from the previous closing price. In comparison, the Sensex has risen by 0.22% to ₹83,129.88. The stock has shown fluctuations today, reaching a high of ₹661 and a low of ₹631.80.
Technical analysis of Varun Beverages' stock
From a technical standpoint, Varun Beverages is performing above its short-term simple moving averages (SMA) for 5, 10, and 20 days, as well as its long-term SMAs for 50, 100, and 300 days. The current SMA values for various periods are as follows:
5 days: ₹638.02
10 days: ₹621.63
20 days: ₹619.27
50 days: ₹621.54
100 days: ₹615.95
300 days: ₹570.00
These values indicate the stock's performance relative to its recent averages, helping investors gauge its current momentum.
Key support and resistance levels
According to pivot level analysis, Varun Beverages faces key resistance levels at ₹653.23, ₹659.02, and ₹666.13. Conversely, the support levels are identified at ₹640.33, ₹633.22, and ₹627.43.
These levels are crucial for understanding potential price movements and making informed share market investments.
Trading volume and its implications
Today, the trading volume for Varun Beverages on NSE and BSE surged by 234.51% compared to the previous session. Trading volume is a significant indicator for analysing market trends.
Increased volume alongside price changes can signal either a sustainable uptrend or a potential decline, depending on whether the price movement is positive or negative.
Fundamental analysis overview
On the fundamental side, Varun Beverages boasts a robust Return on Equity (ROE) of 34.15%. The stock's Price-to-Earnings (P/E) ratio stands at 86.80, with a Price-to-Book (P/B) ratio of 24.49.
The company’s promoter holding is 62.66%, while mutual funds (MF) hold 1.62%, and foreign institutional investors (FII) hold 25.32%. Notably, MF holding increased from 1.52% in March to 1.62% in June, while FII holding decreased from 25.78% to 25.32% in the same period.
Comparison with market trends
Varun Beverages shares have dropped by -1.21% today, diverging from the mixed performance of its peers. While some peers are experiencing declines, others are seeing gains. Benchmark indices like Nifty and Sensex are up by 0.19% and 0.22%, respectively.
This broader market context is important for share market investment strategies, as it reflects the overall market sentiment and potential opportunities or risks in stock trading.
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