India's Varun Beverages gains as BofA reiterates "buy" rating

Varun Beverages

21/08/2024 07:15

** Varun Beverages  VARB.NS  rise 3.4% as BofA reiterates
"buy" rating
    ** Stock top gainer on Nifty FMCG index  .NIFTYFMCG , which
is up 0.65%
    ** Pepsi India bottler's distribution expansion and product
launches will drive growth, BofA Securities says
    ** Adds expansion into new territories such as South Africa
and Congo is a potential growth driver
    ** BofA sets PT of 1,840 rupees vs current price of 1,543.7
rupees
    ** Avg rating of 17 analysts is "buy"; median PT is 1,780
rupees - LSEG data
    ** Stock up 25% so far this year, fourth-highest on FMCG
index

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))