Varun Beverages Share price: Amid a market downturn, shares of beverage industry company Varun Beverages have shown some gains. Brokerage firm Goldman Sachs remains bullish on this stock. Around 3 PM, the stock was trading on the NSE at approximately ₹487, up ₹4.45 or about 1%. According to Goldman Sachs, there are multiple triggers for the stock’s potential outperformance. Consequently, they have assigned a BUY rating with a target price of ₹600 per share.
The brokerage notes that India’s ready-to-drink market is rapidly expanding, and the company is expected to increase its market share. The highest growth is seen in the energy drink and hydration segments. Market experts also believe that the entry of Campa Cola will not impact Varun Beverages’ growth. Meanwhile, promising opportunities for capacity expansion are emerging in international markets.
Goldman Sachs expects a turnaround in profits from South Africa between CY24 and CY27, with margins potentially rising from 10% to 17%. However, the firm did not comment on the company’s cash flow, stating that capital expenditure is still pending.
Varun Beverages Share Performance
Looking at the stock’s movement, it has declined 23.73% so far in January 2025. Over the past month, it has dropped 6.73%, while over three months, it has gained 8.59%. The stock’s 52-week high is ₹681.12, and the 52-week low is ₹419.55. On the day in question, the high was ₹491.60 and the low ₹479.00.
Out of 23 analysts, 16 have given the stock a “Buy” rating, 4 have rated it as “Outperform,” and 3 have advised a “Hold.”
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
Also Read :- RateGain Shares: Revenue and Profit Increased, Yet Shares Fell by 10%, Brokerage Downgrades Target
