India's Varun Beverages hits record high, extending gains from Q3 profit beat

Varun Beverages

16/11/2023 09:37

** Shares of Varun Beverages  VARB.NS  rise as much as 3.6%
to a record high of 1.051 rupees
    ** Stock has gained 9.5% since results on Nov. 6
    ** VARB among top gainers on Nifty FMCG Index  .NIFTYFMCG 
    ** The Pepsi India bottler had reported a Q3 profit beat,
aided by higher sales volume and steady demand
    ** More than 2.7 mln shares change hands by 03:00 p.m. IST
1.3x its 30-day avg     
    ** Mean rating of 17 analysts covering the stock is "buy";
median PT is 1,027.5  rupees - LSEG data
    ** Stock currently up 2.8%, bumping YTD gains to ~58%


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