Stock to Buy - Varun Beverages Know why Kotak puts a BUY on this stock with target price Rs 1150
Kotak Institutional Equities say that Varun Beverages underlying growth momentum was healthy with a two-year organic volume CAGR of 11.7% in 1QCY21. Robust growth continued in the first fortnight of April driving flat volumes in the month notwithstanding a sharp decline in the second fortnight following lockdown/restrictions
Varun Beverages Management expects continued momentum in rural markets. Net impact on offtake is expected to be much lower compared to the first wave: Reuters