India's Varun Beverages gains on quarterly profit jump

Varun Beverages

28/04/2026 05:13

April 28 (Reuters) - ** Varun Beverages VARB.NS gains 1.71% to 527.70 rupees; top gainer on Nifty FMCG .NIFTYFMCG index, which is down ~0.24%

** Co's quarterly net profit rises 20.1% y/y

** Jefferies lifts PT by 65 rupees to 615 rupees; lifts CY26-CY28 EPS estimates by 4%-7%

** Emkay raises PT by 80 rupees to 620 rupees; ups EPS estimates by ~5%-6%

** Ambit Capital hikes PT by 92 rupees to 593 rupees; lifts CY26/CY27 sales estimates by 5%, EBITDA by 7%

** Expects 20% sales growth in CY26

** YTD, VARB gains ~6% vs NIFTYFMCG's ~8% decline

 (Reporting by Bipasha Dey in Bengaluru)

 ((Bipasha.Dey@thomsonreuters.com;))