PepsiCo (PepsiCoThe selling pressure in the shares of Varun Beverages, one of the largest bottling companies of India, is not stopping. Leaving aside the rise of 2.5 percent on Thursday, January 16, after a decline of 8 consecutive trading days, today it again fell drastically, that is, it weakened in 9 out of 10 trading days and it declined by 16 percent. Talking about today, it fell by more than 5 percent. At the end of the day today it fell by 3.04 percent and was priced at Rs 556.95 on BSE (Varun Beverages Share Price) is closed on. It had fallen by 5.05 per cent to Rs 545.40 in intra-day. Of the 24 analysts covering it, 21 have given it a buy rating while the rest have given a hold rating.
Campa created more pressure on Varun Beverages
Due to strong profit booking, shares of Varun Beverages have fallen significantly. It had given around 400 percent return in three years and now the shares came down as investors were taking out profits. Apart from this, the management of Reliance’s retail business said with the December quarter results that the share of its beverage product Campa in the sparkling beverage category has increased to more than 10 percent in some states. Reliance’s management estimates that by the end of this financial year, Campa’s turnover will cross Rs 1,000 crore. This broke the shares of Varun Beverages.
How were the shares in one year?
Shares of Varun Beverages have made huge profits for the investors. Last year on January 18, 2024, it was at Rs 478.48, which is a one-year low for its shares. From this low level, it jumped by about 43 percent in 6 months to reach a price of Rs 682.84 on July 29, 2024, which is a record high for its shares. However, the rise of shares stopped here and at present it is more than 19 percent downside from this high.
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