Pending — not yet graded
“Maintains an equal weight stance on Varun Beverages with a 20% upside target of ₹530. The company is poised for strong growth, driven by an extended PepsiCo partnership until 2049, which provides operational flexibility and cost efficiencies. International operations, particularly in Africa, are also scaling steadily.”
Axis Securities Analysis’s track record: 3 graded calls · 95% CI 21–94%
Varun BeveragesBullishCalled 05 Aug 2026
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