Short term rating has been reaffirmed at A1+ by the rating agency.
The research firm believes that consolidation phase is over while balance sheet parameters are likely to improve.
ICICI Direct recommended hold rating on Varun Beverages with a target price of Rs 693 in its research report dated August August 02, 2019.
Net Sales are expected to increase by 28.5 percent Y-o-Y (up 94.7 percent Q-o-Q) to Rs. 2,646.5 crore, according to ICICI Direct.
The bonus issue is subject to the approval of shareholders
Analysts are counting on the stock to unleash its true growth potential in India after the beverage major acquired PepsiCo franchise rights in West and South India.
The carbonated soft drinks and non-carbonated beverage maker informed exchanges that a meeting of the board of directors of the company will be held on June 17 to consider proposal for declaration of bonus issue of equity shares
ICICI Direct recommended hold rating on Varun Beverages with a target price of Rs 1040 in its research report dated May 10, 2019.
Net Sales are expected to increase by 9.8 percent Y-o-Y (up 53 percent Q-o-Q) to Rs. 1,201.8 crore, according to ICICI Direct.
The Competition Commission of India (CCI) in its meeting held on March 22 considered and approved the proposed acquisition, VBL said in a regulatory filing.
Globally, most of the developed countries are shunning beverages with high calories. And consumers are moving towards more healthy drinks rather than carbonated drinks.
Upon completion of the acquisition, VBL will be a franchise of PepsiCo beverages business across 27 states and seven Union Territories (UTs)
The board has approved the company's intent to enter into a binding agreement with PepsiCo India Holdings to acquire franchise rights in the two regions for a national bottling, sales and distribution footprint in seven states and five UTs, Varun Beverages Ltd (VBL) said in a regulatory filing.
A failure to sustain above 11,120 can trigger minor profit booking dragging the index lower to 11,000-10,840
In Samvat 2074, indices climbed to all-time highs as Sensex touched 38,989.65 on August 29, while Nifty hit 11,760.20 on August 28
Net Sales are expected to increase by 17.5 percent Y-o-Y (down 45.1 percent Q-o-Q) to Rs. 1,127.3 crore, according to ICICI Direct.
The company said consequent to the introduction of the Goods and Service Tax (GST) Act with effect from July 1, 2017, central excise, value added tax (VAT), and some other indirect taxes have been subsumed into GST.
Net Sales are expected to increase by 25.7 percent Y-o-Y (up 82.9 percent Q-o-Q) to Rs. 2,052.8 crore, according to ICICI Direct.
Amid weakness in the midcap space due to uncertainty over outcome of the Karnataka election, stellar earnings of some not so well known names may have missed investor attention. We feel these companies should be on investors’ radar.
Rajat Bose of rajatkbose.com recommends buying Havells India with stop loss below Rs 534 for targets of Rs 546 and Rs 553 and a buy also on Varun Beverages with stop loss below Rs 712.90 and targets are Rs 738 and Rs 750.
Operating profit or EBITDA (earnings before interest, tax, depreciation and amortisation) jumped 25.8 percent year-on-year to Rs 172.7 crore.