Varun Beverages Ltd (NSE: VBL): Selling pressure can be seen in the stock market on Wednesday. It is evident by the marketplace that every attempt to buy has turned into a sale.
The selling pressure of FIIs is so much that the market structure is becoming sell-on-rise. Over the last few days, the support level has not been able to hold on to the market. The reason for the continuous selloff is the continuous selling by FIIs.
In the correctional market, buying opportunities are being sought in some stocks. Profit booking is being seen from the high level in the stock of Varun Beverages Ltd. The share of Varun Beverages is correcting from the 52-week high level of Rs 681.
The share of Varun Beverages Ltd traded at 574.60 rupees on Wednesday. This was the stock falling by 1.66 %. The market value for the firm is 1.87 lakh crore rupees.
On Trend Line, 23 reports have recommended buying Varun Beverages Limited, with an average target of 667.75, indicating an upside of 15.73% from its current price.
Analysts are taking a bullish view on this stock, although the stock is operating at a high valuation. An expert says that Varun Beverages has been a very wealth-creating stock for us. It can be called the best-performing FMCG company.
He said that in the last four to five years, we have seen excellent execution from Varun Beverages, whatever acquisitions they have made, they have changed it.
He said that Varun Beverages Ltd has developed the market and from the bottling point of view, they have done everything right and whatever acquisitions they have made in Africa, they will repeat them there as well.
The shareholding pattern of Varun Beverages Ltd shows that DIIs have increased their stake in this stock in the quarter ended September 2024 and now DIIs hold a total stake of 5% in this stock.
By the way, this stock is called the favorite stock of FIIs and the stake of FIIs in it is 24.20 percent. The promoters continue to hold 62.70% stake in this stock.
Quick Fact
| Company name | Varun Beverages |
|---|---|
| Market Value | ₹1.87 lakh crore |
| Stock price (2 pm) | ₹574.60 |
| Stock price | ₹573.15 |
| Fall % (Wednesday) | 1.91% |
| 52-Week High | ₹681 |
| Analyst Recommendations | 23 reports recommend buying |
| Possible Target Price | ₹667.75 |
| Possible Upside % | 15.73% |
| View | Bullish |
| Sector | FMCG |
| DII Stake (Sept 2024) | 5% |
| FII Stake | 24.20% |
| Promoter Stake | 62.70% |
| Acquisitions | Expanded in Africa |
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