VBL sees profit booking after Q2CY24 results meet estimates; stock down 6%

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VBL sees profit booking after Q2CY24 results meet estimates; stock down 6% - Business Standard

Quick Summary:

The fall in the stock price came after investors jumped to book profit after stellar numbers in the second quarter and half year ended June 30, 2024 (H1CY24), which met street estimates.

VBL in focus: Shares of Varun Beverages Limited (VBL) fell as much as 6.40 per cent to hit an intraday low of Rs 1,575.95 per share.

The company produces and distributes a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.