LARGECAP STOCK SPLIT, RS 2.50 DIVIDEND: 1000% RETURN! OVERWEIGHT RATING | SHARE PRICE TARGET 2024
Varun Beverages Share Price News: Stock of Varun Beverages Limited (VBL) is in focus on Tuesday i.e. April 16, 2024. Brokerage firm Morgan Stanley has maintained an Overweight rating on the company. The NIFTY FMCG company is an Indian multinational company that manufactures, bottles, and distributes beverages.
The stock of Varun Beverages Limited climbed by more than 1.49 per cent at the time of opening at Rs 1402 vs the previous closure of Rs 1381.10 on NSE. Around 9:58 am, shares of the company traded at Rs 1402 apiece, up by Rs 21.10 points or 1.53 per cent. The scrip registered a high of Rs 1419.90 and a low of Rs 1386.95 so far. More than 10.24 lakh equity shares changed hands at the same time.
Varun Beverages Share Price Target 2024
Morgan Stanley has maintained an Overweight rating with a target price of Rs 1701. “Solid track record of scaling domestic and global opportunities as well as strong profitability. Will continue to outpace F&B industry growth, in our view. Also fits in well with our preference for mass discretionary names in 2024. Over the next 3 years, expect 19 per cent revenue CAGR and 23.7 per cent EBITDA margins. The stock looks better placed than peers, as it is trading at a 57x 2025 EPS estimate. Varun Beverages is now the preferred pick in staples,” the brokerage added.
Varun Beverages Share Price History
PepsiCo franchisee Varun Beverages Limited is a constituent of the S&P BSE 100. According to BSE analytics (as of April 16, 2024), shares of Varun Beverages Limited have fallen by 2.69 per cent and 0.70 per cent in the last one week and 2 weeks, respectively. In the past one month, the shares of the company down by 2.55 per cent. However, in the last three months and six months, the shares rose by 10.38 per cent and 51.50 per cent, respectively. On a YTD basis, the shares gained by 12.42 per cent. In the past one year, 2 years, 3 years and 5 years, the shares climbed by 95.23 per cent, 313.74 per cent, 534.63 per cent and 1014.86 per cent, respectively.Varun Beverages Stock Split
Varun Beverages underwent a 1:2 share split in June 2023.Varun Beverages in News
Last week, Varun Beverages Limited agreed to invest up to 14 per cent of Equity Share Capital of Huoban Energy 11 Private Limited, a special purpose vehicle (SPV) inter-alia engaged to supply solar power to consumers in Maharashtra. It also decided to invest up to 14 per cent of Equity Share Capital of Aspirative Creative Ventures Private Limited, a special purpose vehicle inter-alia engaged to supply solar power to consumers in Uttar Pradesh. (Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.) RISE with India - FOLLOW ET NOW WhatsApp channel!