ICICI Direct’s research report on Varun Beverages
Varun Beverages is one of the largest franchisee of PepsiCo in the world. The company produces & distributes carbonated drinks, juices & packaged drinking water in six countries including India. Some of the PepsiCo brands produced by VBL includes Pepsi, Diet Pepsi, Seven-Up, Mirinda, Mountain Dew, Nimbooz, String, Slice, Tropicana, Aquafina among others. The company has operations in India (except Andhra Pradesh, J&K & Ladakh), Sri-Lanka, Nepal, Morocco, Zambia & Zimbabwe
Outlook
We change our rating on the stock from BUY to HOLD We value the stock at Rs 1050, valuing the business 23x CY23 EV / EBITDA
More Info on Trent
At 14:43 hrs Varun Beverages was quoting at Rs 944.75, down Rs 4.85, or 0.51 percent.
It has touched an intraday high of Rs 956.95 and an intraday low of Rs 926.85.
It was trading with volumes of 8,520 shares, compared to its thirty day average of 20,021 shares, a decrease of -57.45 percent.
In the previous trading session, the share closed up 0.38 percent or Rs 3.60 at Rs 949.60.
The share touched its 52-week high Rs 1,020.00 and 52-week low Rs 582.67 on 09 November, 2021 and 23 April, 2021, respectively.
Currently, it is trading 7.38 percent below its 52-week high and 62.14 percent above its 52-week low.
Market capitalisation stands at Rs 40,910.80 crore.
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