Varun Beverages Limited.
Keynote Capitals Ltd
Quarterly Update Q3FY24
Broker Research reports: Sell reports
for Industry - Other Food & Beverages
- This broker has downgraded this stock from it's previous report. (eg. - Buy->Hold)
- Broker has maintained previous recommendation but reduced share price target.
- This broker has upgraded this stock from it's previous report.(eg. - Sell->Hold)
- Broker has maintained previous recommendation but increased share price target.
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| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 05 Feb 2024 | Varun Beverages |
Keynote Capitals Ltd
|
453.00 | 1255.00 | 1302.50 (-65.22%) | Pre-Bonus/ Split |
Sell
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| 06 May 2020 | Varun Beverages |
ICICI Securities Limited
|
453.00 | 580.00 | 600.00 (-24.50%) | Target met |
Sell
|
Varun Beverages
ICICI Securities Limited
Varun Beverages (VBL) reported 23.3% revenue growth in Q1CY20E led by 26.2% volume growth. The volume growth is largely attributable to consolidation of south & west geographies after acquisition in 2019. However, on a like-to-like basis, the company saw 9.3% volume decline in the quarter. India business saw 13.7% volume decline largely due to loss of sales in last 10 days of March. Despite January-February seeing double digit volume growth, 31% decline in March severely impacted the quarter. Gross margins improved 280 bps largely due to a sharp decline in PET chip prices....
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