India's Varun Beverages rises on quarterly profit rise

Varun Beverages

03/08/2023 08:40

** Shares of Pepsi India bottler Varun Beverages  VARB.NS 
up as much as 2.96% at 832 rupees, their highest since July 18
    ** Stock logs sharpest intraday pct gain since July 5, on
track for second consecutive session of gains if trends hold
    ** VARB reports an ~26% jump in second-quarter profit 
    ** Thirteen of 15 firms rate stock "buy" or above, two
"hold;" median PT - 823.75 rupees
    ** About 2.7 million shares change hands as of 1:04 p.m.
IST, 1.5x 30-day average 
    ** Stock up  over 22% this year, as of last close

($1 = 82.7625 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))