Varun Beverages shares gain 6% in early deals as they trade ex-split 

Shares of Pepsico bottler Varun Beverages gained 6% in early deals today after the FMCG stock truned ex-split in the ratio of 2:5. On BSE, the stock surged 6% to Rs 665.65 against the previous close of Rs 627.60. Market cap of Varun Beverages rose to Rs 2.15 lakh crore. The multibagger stock has delivered returns of 210% and 429% in two years and three years, respectively.

A total of 2.02 lakh shares of the firm changed hands, amounting to a turnover of Rs 13.25 crore. Market cap of the firm rose to Rs 2.15 lakh crore.

In terms of technicals, the relative strength index (RSI) of Varun Beverages stands at 55.7, signaling the stock is trading neither in the overbought nor in the oversold zone. Varun Beverages shares stand higehr than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The FMCG stock fell to a 52 week low of Rs 331.28 on October 26, 2023 and hit a 52 week high of Rs 682.84 on BSE. 

On NSE, the stock surged to Rs 665. It closed at Rs 1569.15 in the previous session. 

A total of 31.85 lakh shares of the firm changed hands, amounting to a turnover of Rs 209.31 crore. Market cap of the firm rose to Rs 2.14 lakh crore.

Varun Beverages reported a 25.2 per cent year-on-year (Y-o-Y) rise in net profit to Rs 537.3 crore in Q1 against a net profit of Rs 429.1 crore in the same period last year. The company follows the January-December financial year. Net sales rose 10.9 per cent to Rs 4,317.3 crore in Q1 from Rs 3,893 crore in the year-ago period. 

Varun Beverages is a beverage company. It operates franchisee of PepsiCo. The company produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.