Varun Beverages' Stock Price Dips, But MarketsMOJO Gives 'Buy' Call

Varun Beverages, a leading player in the breweries and distilleries industry, has recently seen a dip in its stock price. On March 5th, 2024, the company's stock lost -3.38%, underperforming the sector by -0.91%. However, despite this recent decline, MarketsMOJO has given a 'Buy' call for Varun Beverages.

Taking a closer look at the stock's performance, it has been on a downward trend for the past two days, with a fall of -4.85% during this period. On the same day, the stock also touched an intraday low of Rs 1378, a decrease of -3.4%. However, it is worth noting that Varun Beverages' moving averages are still higher than the 50-day, 100-day, and 200-day averages, although lower than the 5-day and 20-day averages.

In comparison to the overall sector, Breweries & Distilleries, which has fallen by -2.47%, Varun Beverages' performance has been slightly worse. However, looking at the stock's performance in the larger market, it has still outperformed the Sensex, with a -3.79% return compared to the Sensex's -0.26% return in just one day. Over the past month, Varun Beverages has also shown a positive performance of 5.40%, while the Sensex has only seen a 2.72% increase.

Despite the recent dip in stock price, Varun Beverages remains a strong player in the industry with a large market cap. With MarketsMOJO's 'Buy' call and the company's consistent performance, it is a promising investment opportunity for those looking to enter the breweries and distilleries sector.