Varun Beverages share are up by 0.31%, Nifty up by 0.17%

At 09 Sep 11:06 today, Varun Beverages shares are trading at price ₹1497.65, 0.31% up from the previous closing price. Sensex is trading at ₹81347.52, up by 0.2%. The stock has hit a high of ₹1512.95 and a low of ₹1490 during the day.

On the technical front, the stock is trading above the 300 days SMA & lower than the 5,10,20,50,100 day SMA. The stock will have support at 300 days SMA & face resistance at 5,10,20,50,100 days SMA.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹1513.63, ₹1534.22, & ₹1551.43, whereas it has key support levels at ₹1475.83, ₹1458.62, & ₹1438.03.

Till 11 AM today, the volume traded on NSE & BSE for Varun Beverages was -26.71% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock's continued downtrend suggests a bearish trend is underway.

From a fundamental analysis perspective, the company has a ROE of 34.15% .The current P/E of the stock is at 80.17 & P/B is at 22.62.

The median 1-year forecasted upside in this share is at 11.46% with a target price of ₹1669.27777778.

The company has a 62.66% promoter holding, 1.62% MF holding, & 25.32% FII holding as per filings in the june quarter.

The MF holding has increased from 1.52% in march to 1.62% in june.

The FII holding has decreased from 25.78% in march to 25.32% in june quarter.