Varun Beverages shares jumped 2% in early trade on Wednesday after Jefferies upgraded the stock to a “Buy” rating. The brokerage, however, reduced its price target from ₹650 to ₹560, citing weaker-than-expected summer season demand.
Jefferies labeled Varun Beverages as a “contrarian pick” despite trimming its earnings per share (EPS) estimates by 9%–10% for June 2026. The downgrade in EPS forecasts was linked to subdued beverage sales during the peak season.
Varun Beverages shares opened at ₹463.95 and, at the time of writing, touched a high of ₹469.10 during the trading session, with a low of ₹463.10. The stock continues to trade in a narrow range, showing limited intraday movement. It remains well below its 52-week high of ₹681.12 but comfortably above the 52-week low of ₹419.55.
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