Maintain ‘add’ on Varun Beverages, TP at Rs 1,100

Most dealers were unable to achieve turnover targets, in our view, there is increase in net working capital days due to lower sales but working capital in rupee terms has also increased by Rs 0.5 billion YoY.

from The Financial Express https://ift.tt/2OHYqq7
https://ift.tt/eA8V8J ICICI Securities