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Shares of Varun Beverages Ltd. (VBL) drew investor attention in today’s session after the company announced the commencement of commercial operations at its new production facility in Prayagraj, Uttar Pradesh.
The stock closed 0.49% higher at Rs 549.30 on the BSE on Tuesday, pushing the company's market capitalization to Rs 1.85 lakh crore. A total of 1.53 lakh shares were traded, translating to a turnover of Rs 8.43 crore.
Varun Beverages' new Prayagraj unit has started the commercial production of carbonated soft drinks, juice-based beverages, and packaged drinking water, according to a regulatory filing. The company, a leading PepsiCo bottler, continues to expand its manufacturing footprint across India.
Technically, the stock shows positive short-term momentum, trading above its 5-day to 50-day moving averages, though still below its 100-day, 150-day, and 200-day averages. The Relative Strength Index (RSI) stands at 57.2, indicating a neutral stance—neither overbought nor oversold.
Since hitting its 52-week low of Rs 419.40 on March 3, the stock has gained nearly 31%, showing strong investor confidence and recovery potential. The stock’s beta of 0.8 reflects relatively low volatility compared to the broader market.
Company Profile:
Varun Beverages operates as a key franchisee of PepsiCo, manufacturing and distributing a wide array of carbonated and non-carbonated beverages, including bottled water under PepsiCo’s trademarks.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. Jobaaj Media recommends that investors consult a certified financial advisor before making any investment decisions.
