Multibagger stock: Varun Beverages shares have risen for the fourth consecutive session today. Market cap of Varun Beverages rose to Rs 1.18 lakh crore.
Axis Securities has Varun Beverages among its top picks from the consumer sector. Varun Beverages is consistently outperforming its peers in the last several quarters despite volatile environment, the brokerage said.
Varun Beverages stock gained 2.06% intraday to Rs 1740.65 against the previous close of Rs 1705.55 on BSE. In a year, the stock has zoomed 130% and gained 28% in 2023.
Varun Beverages' Q1 Ebitda was 10-15 per cent ahead of Street estimates, led by strong traction in India operations and better mix. Varun Beverages is committing capital to future growth drivers, it said.