Varun Beverages shares down 1.72% as Nifty falls

Shares of Varun Beverages Ltd. rose 1.72 per cent to Rs 1399.05 in Friday's trade. It hit an intraday high of Rs 1427.0 and low of Rs 1390.4, respectively, during the day.

The stock quoted a 52-week high price of Rs 1560.3 and low of Rs 687.5.

As of 02:04PM (IST), the counter saw total traded volume of 169,681 shares with a traded value of Rs 23.8 crore, according to NSE.

The stock had closed at Rs 1423.65 in the previous session.

The scrip has declined -1.55 per cent in the past one month till date, while the benchmark BSE Sensex has gained 0.36 per cent during the same period.

According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 89.96 while price-to-book ratio stood at 23.16. A higher P/E ratio shows that investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and it reflects the price investors are ready to pay even for no growth in a business.

The stock belongs to the FMCG Food & Beverages industry.

Promoter/FII Holding
Promoters held 63.09 per cent stake in the company as of 31-Dec-2023, while FII and MF ownership in the firm stood at 26.58 per cent and 2.31 per cent, respectively.

Key Financials
The company reported consolidated sales of Rs 2676.8 crore for the quarter ended 31-Dec-2023, down 31.17 per cent from the previous quarter's Rs 3889.02 crore and down 20.39 per cent from the year-ago quarter's Rs 2223.48 crore. Its net profit for the latest quarter stood at Rs 131.97 crore, up 76.55 per cent from the same quarter a year ago.