India's Varun Beverages extends gains post profit beat; Jefferies hikes TP

Varun Beverages

30/07/2025 05:49

** Varun Beverages VARB.NS extends gains for second day post Q2 results on Tuesday; rises 2.9% to 526 rupees

** Pepsi India bottler's Q2 consol net profit rises 5% y/y, beating analysts' estimate

** Analysts say rise was on stronger margins, good performance in international markets

** Antique, which maintains "buy", sees growth in energy drinks and dairy products categories, as well as capacity expansion supporting volume and margin expansion

** Jefferies, which also has "buy", says competition isn’t a major concern for co; raises EPS estimates by 3% and hikes TP to 600 rupees from 560 rupees

** Stock rated "buy" on avg; median PT is 600 rupees - data compiled by LSEG

** YTD, VARB down 19.8%

($1 = 87.1900 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))