Citi has initiated a 'buy' rating on Varun Beverages with a target price of Rs 800, citing the company’s strong market position in India and significant growth opportunities in the soft drinks sector. The brokerage highlighted PepsiCo bottler's go-to-market (GTM) initiatives and its ability to create new product categories as key drivers of its expansion.
Open FlipMahindra and Mahindra's Thar Roxx model received a strong booking of 1.76 lakh units within 60 minutes, prompting brokerages like Morgan Stanley and Nomura to maintain their bullish stance on the company with target prices of ₹3,304 and ₹3,417, respectively, citing potential for increased sales and consolidation of M&M's third spot in India's personal vehicle market.
Open FlipShares of IOC were in the red on Friday after the company said it had entered into an agreement with Nepal Oil Corporation (NOC). IOC and Nepal Oil have partnered for a business to business framework to develop substantial petroleum infrastructure in Nepal, the oil major said in a press release on Thursday, signifying a major stride towards boosting bilateral cooperation and energy security.
Open Flip