HSBC has reaffirmed its buy call on Varun Beverages, with a target price of ₹770, indicating a 29.7% upside from the current market price of ₹593.65, following the company’s strong Q3 performance. Driven by volume growth and cost efficiencies, Varun Beverages reported robust operating performance. The company remains focused on capacity expansion, mergers and acquisitions, and debt reduction as top priorities for capital deployment, positioning itself for long-term growth.
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