Equal Weight on Varun Beverages, target price Rs 700: Axis Securities

Axis Securities sets a target price of Rs 700 for Varun Beverages. The current market price is Rs 617.8. The company's growth is driven by acquisitions and expansions. This includes increasing its presence in South Africa and DRC, expanding its snacks portfolio, and focusing on distribution in rural areas. Product diversification is expected to support long-term profitability.