Varun Beverages hits new high on strong earnings hope; rises 16% in a month

The management remains confident of delivering healthy volume growth in the medium to long-term on the back of strong demand momentum.

Shares of Varun Beverages (VBL) hit a new high of Rs 870, up 2 per cent on the BSE in Wednesday’s trade in an otherwise subdued market, on expectation of strong earnings.

In the past one month, the stock rallied 16 per cent, as compared to 2 per cent rise in the S&P BSE Sensex. It has surged 44 per cent in six months as against 12 per cent decline in the benchmark index. Meanwhile, the stock zoomed 65 per cent in a year as compared to 2.2 per cent gain in the Sensex. In past two consecutive years,