VBL

** Shares of Varun Beverages VARB.NS sink 9% over two sessions, their biggest such decline since late February

** Pespi India bottler's stock dips 3.7% on Friday; it fell 5.7% on Thursday after effective tax on sugary carbonated drinks was unchanged at 40%

** Still, Nomura said it does not see any impact for carbonated beverage companies

** 22 analysts covering VARB have a "buy" rating on avg; median PT is 595 rupees - data compiled by LSEG

** YTD, stock down 27%, the biggest loser on FMCG index .NIFTYFMCG

(Reporting by Urvi Dugar)

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Sept 4 (Reuters) - Varun Beverages Ltd VARB.NS:

• INCORPORATED JV COMPANY WHITE PEAK REFRIGERATION

Further company coverage: VARB.NS

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** India's consumer goods stocks climb 3.2%, the only major sub-index set to close higher this week

** Nifty FMCG .NIFTYFMCG index set for its best week in nearly four months

** Varun Beverages VARB.NS gains most, jumping 8.1% for the week

** Index heavyweights Hindustan Unilever HLL.NS and Britannia BRIT.NS climb 5.6% and 4.3%

** Q1 earnings for VARB and HLL topped estimates, fuelling hopes of a gradual demand recovery

** Dabur DABU.NS forecast higher full-year sales growth, rises 5.5% this week

** Top-weight ITC up 2% this week, due to report results after market close on Friday

** Ten stocks on index rated "buy" or higher, rest "hold" - data compiled by LSEG

** Nifty FMCG index pares YTD losses to 0.9%, but trails blue-chip Nifty 50's .NSEI 4.3% rise this year

(Reporting by Nandan Mandayam in Bengaluru)

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** Varun Beverages VARB.NS extends gains for second day post Q2 results on Tuesday; rises 2.9% to 526 rupees

** Pepsi India bottler's Q2 consol net profit rises 5% y/y, beating analysts' estimate

** Analysts say rise was on stronger margins, good performance in international markets

** Antique, which maintains "buy", sees growth in energy drinks and dairy products categories, as well as capacity expansion supporting volume and margin expansion

** Jefferies, which also has "buy", says competition isn’t a major concern for co; raises EPS estimates by 3% and hikes TP to 600 rupees from 560 rupees

** Stock rated "buy" on avg; median PT is 600 rupees - data compiled by LSEG

** YTD, VARB down 19.8%

($1 = 87.1900 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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** Varun Beverages VARB.NS gains 4% to 506.5 rupees

** Pepsi India bottler's Q2 consol net profit rises to 13.17 bln rupees ($151.7 mln), ahead of analysts' estimate of 11.30 bln rupees, per data compiled by LSEG

** Co beats estimates as cost control measures helped offset damp bottled beverage sales exacerbated by early monsoon rains

** Stock set to rise most in a session since May 23

** More than 17.5 mln shares traded, 2.2x the 30-day moving avg

** Stock rated "buy" on avg; median PT is 600 rupees, per data compiled by LSEG

** YTD, VARB falls ~21%

($1 = 86.8110 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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May 29 (Reuters) - Varun Beverages Ltd VARB.NS:

• STARTS COMMERCIAL PRODUCTION AT MEGHALAYA FACILITY

Source text: ID:nBSE2Dlxbz

Further company coverage: VARB.NS

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** Goldman Sachs initiates coverage on Varun Beverages VARB.NS with "buy" and PT of 600 rupees

** Pepsi's PEP.O India bottler has multiple drivers to outperform the country's fast-growing ready-to-drink beverages market, says Goldman Sachs

** VARB's execution has led to Pepsi's market share in India growing to 38% in 2024, from 28% in 2015, making India one of Pepsi's top-performing markets worldwide - GS

** Stock trading 0.3% lower on the day

** Brokerage expects VARB to continue to gain market share in fast-growing segments like energy drinks and hydration

** Adds, entry of Reliance Consumer's 'Campa Cola' brand indicates no "disruptive" impact to VARB

** Average rating of 22 analysts on VARB is "buy"; median PT is 615 rupees - data compiled by LSEG

(Reporting by Kashish Tandon in Bengaluru)

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May 1 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES LTD - STARTS COMMERCIAL PRODUCTION AT BUXAR FACILITY

Source text: ID:nBSE9BjK9G

Further company coverage: VARB.NS

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April 22 (Reuters) - Varun Beverages Ltd VARB.NS:

• STARTS COMMERCIAL PRODUCTION AT PRAYAGRAJ FACILITY

Source text: ID:nBSE61bZCB

Further company coverage: VARB.NS

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March 24 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES LTD - STARTS COMMERCIAL PRODUCTION AT KANGRA FACILITY

Source text: ID:nBSE7t5pmG

Further company coverage: VARB.NS

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** Pepsi's India bottler Varun Beverages VARB.NS rise as much as 5.7% to 536 rupees

** DAM Capital says market concerns over Campa Cola's aggressive re-entry, broader weak market sentiments "overstated"

** Adds VARB, with distribution network across more than 4 mln outlets in India, minimizes any material risk from Campa Cola's resurgence by Reliance Consumer Products

** Says VARB has more than 36 manufacturing facilities, 2,800+ distributors, 1.15 million visi-coolers nationwide, which will be capital-intensive and time-consuming for Campa Cola to match

** Projects ~19% CAGR sales growth, supported by ~16% volume growth; EPS expected to grow at ~26% CAGR over CY24-26

** Rates stock "buy", with TP of 670 rupees

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** India's Varun Beverages VARB.NS climbs 1.8% to 465.25 rupees

** Brokerage CLSA upgrades Pepsi's India bottler to "high-conviction outperform" from "outperform"

** Says investor concerns over competition with Reliance's Campa are "overdone"; profitablity and growth outlook for VARB remain strong

** CLSA cuts PT to 770 rupees from 802 rupees to factor heightened competition and potential price cuts by VARB

** Analysts covering the stock rate it "buy" on avg; median PT is 677.50 rupees - data compiled by LSEG

** Stock trims YTD losses to 27%

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Varun Beverages VARB.NS fall as much as 7.7% to 439.9 rupees to lowest level since mid-December 2023

** Stock top loser on Nifty FMCG index .NIFTYFMCG, which is down 0.95%

** The Pepsi bottler says it has extended date of planned acquisition of SBC Beverages Ghana from Ghana Bottling Co to March 31 from February 28

** The transaction is subject to regulatory approvals, including from PepsiCo PEP.O

** More than 13.2 mln shares change hands, 1.7x its 30-day avg

** 21 analysts covering the stock on avg have a "buy" rating; median PT is 677.5 rupees - LSEG data

** Stock has shed 25% so far this year, compared to a 8.6% drop in FMCG index

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 10 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES DEC-QUARTER CONSOL NET PROFIT 1.85 BILLION RUPEES

• VARUN BEVERAGES DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 38.18 BILLION RUPEES

Source text: [ID:]

Further company coverage: VARB.NS

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Jan 2 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES LTD - INVESTS 4.13 BILLION RUPEES IN UNIT

Source text: ID:nBSE4Tg6zj

Further company coverage: VARB.NS

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Dec 16 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES - ACQUIRED 39.93% OF LUNARMECH

Source text: ID:nnAPN2GG4QD

Further company coverage: VARB.NS

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Updates for market open

Dec 3 (Reuters) - Indian shares were little changed at the open on Tuesday as consumer stocks fell after a report of a likely tax hike on cigarettes, tobacco and aerated drinks, offsetting broad-based gains.

The NSE Nifty 50 .NSEI rose 0.09% to 24,300.1 points, as of 9:30 a.m. IST, while the BSE Sensex .BSESN gained 0.05% to 80,287.61.

Eleven of the 13 major sectors logged gains. The more domestically focused small- .NIFSMCP100 and midcaps .NIFMDCP100 added about 0.5% each.

Consumer index .NIFTYFMCG shed 1.3% after a Press Trust of India report said that the goods and services tax (GST) on products such as aerated beverages, cigarettes and other tobacco-related items could be hiked to 35% from the current 28%.

Eleven of the 15 NIFTYFMCG constituents declined, with cigarette maker ITC ITC.NS sliding 2.5% and Pepsi bottler Varun Beverages VARB.NS dropping 3.7%.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy)

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Nov 22 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES - TO DISINVEST ENTIRE 5.25% STAKE IN ISHARAYS ENERGY TWO FOR 19.20 MILLION RUPEES

Source text: ID:nBSE3mByMd

Further company coverage: VARB.NS

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By Praveen Paramasivam, Shivangi Acharya

CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.

Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.

Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.

"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.

"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."

Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.

While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.

They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.

Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.

Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.

Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.

"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.

Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.

Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.

Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.

Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.

"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).

"Savings are low, barely there."

A 'SHRINKING' MIDDLE

India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.

Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.

"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.

Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.

That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.

Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.

Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.

"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.

Consumers are also cutting back on dining out.

Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.

While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.

"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.

($1 = 84.0640 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)

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Nov 12 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES - TO ACQUIRE SBC TANZANIA FOR EQUITY VALUE OF $154.50 MILLION

• VARUN BEVERAGES - TO ACQUIRE 100% STAKE OF SBC BEVERAGES GHANA AT AN EQUITY VALUE OF $15.06 MILLION

• VARUN BEVERAGES - TO ACQUIRE 39.93% OF SHARE CAPITAL OF LUNARMECH TECHNOLOGIES FOR 2 BILLION RUPEES

Source text: ID:nBSEbYhpf4

Further company coverage: VARB.NS

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** Shares of Pepsi India bottler Varun Beverages VARB.NS rise 2%

** Co top gainer in consumer index .NIFTYFMCG, which is down 0.3%

** VARB posts consolidated net profit of 6.2 bln rupees in September quarter, higher than the analysts' estimate of 5.76 bln rupees

** Profit rise aided by healthy demand for soda in international markets, which outweighed a monsoon-hit domestic market

** VARB's revenue from operations rises 25% Y/Y to nearly 50 bln rupees

** Shares of VARB up 19.1% in 2024 so far, outperforming the 5.4% rise in the consumer index - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 28 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES - ACQUIRED 10.91% STAKE IN HUOBAN ENERGY 11 BY INVESTING 29 MILLION RUPEES

Further company coverage: VARB.NS

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** Varun Beverages VARB.NS rise 3.4% as BofA reiterates "buy" rating

** Stock top gainer on Nifty FMCG index .NIFTYFMCG, which is up 0.65%

** Pepsi India bottler's distribution expansion and product launches will drive growth, BofA Securities says

** Adds expansion into new territories such as South Africa and Congo is a potential growth driver

** BofA sets PT of 1,840 rupees vs current price of 1,543.7 rupees

** Avg rating of 17 analysts is "buy"; median PT is 1,780 rupees - LSEG data

** Stock up 25% so far this year, fourth-highest on FMCG index

(Reporting by Ashna Teresa Britto in Bengaluru)

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July 30 (Reuters) - Varun Beverages Ltd VARB.NS:

• DIVIDEND 1.25 RUPEES PER SHARE

• APPROVED SUB-DIVISION OF SHARES

• JUNE-QUARTER CONSOL NET PROFIT 12.53 BILLION RUPEES; IBES PROFIT EST. 12.59 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 73.34 BILLION RUPEES

• SHARE SPLIT OF SHARES WITH FACE VALUE 5 RUPEES EACH TO FACE VALUE 2 RUPEES EACH

Further company coverage: VARB.NS

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July 22 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES- STARTED COMMERCIAL PRODUCTION AT CONGO

Source text for Eikon: ID:nBSE1p8cT2

Further company coverage: VARB.NS

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** Shares of Varun Beverages Ltd VARB.NS rise 2.8%

** Stock is top gainer on consumer goods index .NIFTYFMCG

** The Pepsi India bottler says will manufacture, distribute and sell affordable range of snacks under 'Simba Munchiez' brand in Zambia and Zimbabwe

** VARB already distributes beverages in Zambia and Zimbabwe, which along with Morocco, formed 17% of CY23 revenue

** Analysts rate VARB "buy" on avg, similar to most stocks on 15-member Nifty FMCG index - LSEG data

** Stock's 31.6% jump YTD also most on index, which has risen 5.4%

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Varun Beverages VARB.NS rise as much as 3.1% to a record high of 1,627 rupees

** Stock top gainer on Nifty FMCG Index .NIFTYFMCG, which is up 0.06%

** VARB eyes eighth straight session of gains, on track for its best streak since July 1, 2022

** Seventeen analysts covering the stock on avg have a "buy" rating; median PT is 1,625 rupees - LSEG data

** VARB trading above its 200-day simple moving avg since mid-Nov, 2020

** Stock up ~7% so far this week, eyes best weekly gain since Dec. 22

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Varun Beverages VARB.NS rise as much as 5% to a record high of 1,593.7 rupees

** VARB among top gainers on Nifty FMCG Index .NIFTYFMCG, eyes fourth consecutive day of gains

** Nearly 86,000 shares of co traded in two block deals at an average price of 1,575.6 rupees per share on Monday, a ~4% premium to Friday's close of 1518.6 rupees, as per LSEG data

** VARB trading above its 200-day simple moving avg since mid-Nov, 2020

** Seventeen analysts covering the stock on avg have a "buy" rating; median PT is 1,625 rupees - LSEG data

** Stock has gained ~6% since reporting its Q1 results on May 13

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Varun Beverages VARB.NS rise as much as 5.5% to 1,559 rupees

** Stock top gainer in FMCG index .NIFTYFMCG, which is currently flat

** Pepsi bottler beat March-qtr profit estimates on Monday

** Jefferies says co's gross margin better than expected, rising 390 bps YoY on lower raw material prices, efforts to reduce sugar content and implement lightweight packaging

** Expect next quarter to be strong with harsh summer season aiding impulse beverage purchases - CLSA

** Analysts' avg rating "buy"; median PT 1,612.50 rupees - LSEG data

** Stock second-most expensive with fwd 12-mth PE ratio of 67.4 on 15-member FMCG index

** Stock up 21.8% so far in 2024, biggest YTD gainer in FMCG index

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 13 (Reuters) - Varun Beverages Ltd VARB.NS:

• VARUN BEVERAGES MARCH-QUARTER CONSOL NET PROFIT 5.37 BILLION RUPEES; LSEG IBES PROFIT EST. 5.02 BILLION RUPEES

• VARUN BEVERAGES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 43.98 BILLION RUPEES

• VARUN BEVERAGES YEAR AGO MARCH-QUARTER CONSOL NET PROFIT 4.29 BILLION RUPEES, REVENUE 39.53 BILLION RUPEES

• VARUN BEVERAGES - RAJESH CHAWLA APPOINTED AS CFO

• VARUN BEVERAGES LTD - TO INCORPORATE A WHOLLY-OWNED SUBSIDIARY COMPANY IN ZIMBABWE

Source text for Eikon: [ID:]

Further company coverage: VARB.NS

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