Global financial services firm Citi has initiated coverage on Varun Beverages with a ‘Buy’ rating and a target price of Rs 800, indicating a potential upside of 36% from the previous closing price of Rs 588 per share. Citi cited the company’s strong market position in India and significant growth opportunities in the soft drinks … Read more
While Nifty ended with modest weak-on-weak gains of 0.4%, the truncated trading week was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals … Read more
The capital appreciation story in the equity market is currently positive, largely driven by the results of the general election. SBI Securities provides insights into the recently concluded quarterly results season and recommends that investors take a diversified approach, focusing on the best-performing businesses across 12 sectors. The domestic brokerage firm has prioritized stocks with … Read more
Shares of PepsiCo bottler Varun Beverages (VBL) jumped 5.5% on BSE today to the day’s high of Rs 1,558.45 after reporting an increase of 25% year-on-year (YoY) in March quarter PAT to Rs 548 crore. The brokerages have increased the target price for the stock post earnings announcement. The company’s revenue from operations in Q1 … Read more
Varun Beverages on Monday reported a consolidated net profit of Rs 548 crore, rising 25% year-on-year (YoY) for the quarter ended March 31, 2024, as compared to Rs 439 crore reported in the year-ago period. The revenue from operations for the reported quarter stood at Rs 4,398 crore which was up by 11.2% YoY over … Read more
The fourth quarter results season is coming to a fag-end, and analysts said despite earnings largely meeting expectations, there is a noticeable moderation in the overall earnings landscape. Some notable companies that will announce their earnings this week include Varun Beverages, Zomato, Airtel, Siemens, Power Finance Corp, Mahindra and Mahindra, HAL, and JSW Steel, among … Read more
Benchmark indices went into a tailspin after hitting their fresh all-time high levels on Wednesday, closing down by over 1% as investors cashed in on the recent rally. Stocks that were in focus included names like Paytm, which fell 1.08%, Varun Beverages, which rose 6.62%, and Astral, whose shares declined 2.19% on Wednesday. Here’s what … Read more
Capri Global, Varun Beverages, Grindwell Norton, ICICI Bank and Adani Enterprises are among the consistent wealth creators in the 2018-2023 period, according to the annual Motilal Oswal Wealth Creation Study. Noteworthy wealth creators in this period include Reliance Industries, TCS, ICICI Bank, Infosys and Bharti Airtel. Lloyds Metals emerged as the fastest wealth creator with … Read more
Varun Beverages on Monday reported robust earnings for the quarter ended September, with the consolidated net profit rising nearly 32% year-on-year (YoY) to Rs 501 crore, on the back of strong topline and operational performance. Consolidated revenue, net of excise duty, grew by nearly 22% YoY to Rs 3,871 crore, led by a healthy growth … Read more
Various widely tracked companies like Varun Beverages, Power Grid Corporation, Shree Cements, Tata Power, Adani Ports, LIC, ONGC, Eicher Motors, RVNL, and M&M, will be releasing their September quarter report cards this week. Here’s a list: November 6 Varun Beverages, Divi’s Laboratories, Adani Energy Solutions, Max Healthcare Institute, Linde India, NHPC, Bharat Forge, The Fertilisers … Read more