Varun Beverages Energy Shot On Growth Path | Motilal Oswal business News | Market Update
38MOTILAL Oswal maintains a Buy on Varun Beverage with a target price of Rs 1230/share. The brokerage firm says the robust growth aided by wide distribution and attractive prices and the newly launched segments energy drink, dairy beverages donig well Co has entered into the energy drink segment in CY17 and the contribution from this segment to overall VBL's portfolio moving up. The segment registering strong growth v/s existing product segments. Sting witnessed exponential volume growth of ~5.4x YoY in CY 21 & Up 2.9x YoY in H1CY22. Sting is operating in the lowest price brand with a price point of INR20 and hence it is targeted for the mass market. Indian sports and energy drinks market is expected to grow at a much faster pace Contribution from the energy drink market has reached ~12-15% . Vinnii Motiwala is here with more details.
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