Varun Beverages shares: Long-term gains fizzling out, here's what analysts say 

Shares of Varun Beverages have eroded investor wealth in the long term extending the multibagger's weakness in the short term. Nearly a year back on December 18, 2024, Varun Beverages shares doubled investor wealth in two years. The multibagger FMCG stock rose 127% in two years and gained 446% in three years. 

In the current session, the stock shows merely a gain of 9% and 110% in two and three years, respectively. 

The stock is already trading in the red in the short term, falling 8.56% and 29% in six months and in 2025, respectively. The stock has fallen 25% in a year. 

The stock was trading on flat note at Rs 457.40 in the afternoon session today. 

A total of 1 lakh shares of the firm changed hands, amounting to a turnover of Rs 4.57 crore. Market cap of the firm stood at Rs 1.54 lakh crore. 

In terms of technicals, the relative strength index (RSI) of Varun Beverages stands at 48.9, signaling the stock is trading neither in the overbought nor in the oversold zone.

Varun Beverages shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 150 day and 200 day moving averages.

The stock has a beta of 0.8, indicating very low volatility in a year.

Hitesh Tailor, Research Analyst at Choice Broking said, "VBL continues to face selling pressure, currently trading around Rs 453, slipping below key short-term moving averages. The stock has been in a prolonged downtrend, with repeated failure to sustain above the Rs 470– Rs 480 resistance zone. On the downside, immediate support is placed around Rs 440– Rs 430 a breakdown below this region could extend the decline towards Rs 410 levels. For now, traders should maintain caution — any pullback toward Rs 465– Rs 470 may attract selling pressure again. Buy only above Rs 470 for momentum confirmation, otherwise stay light with stop loss at Rs 430 and target  price of Rs 490–500 only on reversal."

Sebi registered independent analyst Abhijeet said, "Varun Beverages stock price is bearish on the Daily charts with strong resistance at Rs 471. A Daily close below the support of Rs 455 could lead to a target of Rs 431 in the near term."

Drumil Vithlani, Technical Research Analyst  at Bonanza Portfolio says, "Varun Beverages has been in a medium-term downtrend since February 2025. Recently, the stock attempted a trendline breakout above Rs 475–480 but failed to sustain, slipping back below the short-term moving averages. On the downside, a break below Rs 445 could extend the fall toward Rs 420, where strong support is expected."

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.