Varun Beverages stock slips despite expansion moves. The beverage company completed its acquisition of Twizza Proprietary Ltd in South Africa for approximately 11,398 million rupees through its subsidiary Bevco, making Twizza a step-down subsidiary. Additionally, Bevco signed an agreement to acquire Crickley Dairy for roughly 1,315 million rupees, pending regulatory approvals. This dairy and juice-based drinks acquisition marks VBL's strategic diversification beyond its core PepsiCo franchise business. Despite these growth initiatives, shares fell 1.90 percent to 407.20 rupees on March 19, trading near their 52-week low of 400.45 rupees. The stock has declined approximately 8 percent in March. Jefferies maintained a buy rating but trimmed its target price to 550 rupees, suggesting cautious optimism about the company's expansion strategy in the South African market.
