Varun Beverages shareholders lose Rs 1 lakh crore; Price targets, stock movement and more 

Shares of FMCG major Varun Beverages have slipped 44% from record high with nearly half (21%) of losses incurred in 2026. Varun Beverages shareholders have lost Rs 1 lakh crore from the record high of Rs 681.12 reached in late July 2024. 

Varun Beverages current market cap stands at Rs 1.30 lakh crore. The stock hit a low of Rs 381.50 in the current session nearing a 52-week low of Rs 381 reached on March 23, 2026. The stock ended at Rs 388.85 on Friday. 

With the current phase of correction, the FMCG stock has extended its losing streak this year. The stock fell 23.14% in 2025. In 2026, the stock has already lost 22%. 

In the current session, Varun Beverages stock was trading 1.07% lower at Rs 384.65 against the previous close of Rs 388.85. A total of 1.82 lakh shares of the firm changed hands, amounting to a turnover of Rs 7.04 crore. 

Motilal Oswal has a price target of Rs 550 on the FMCG stock. The brokerage expects the company to deliver double-digit domestic volume growth in CY26.

The brokerage's optimism emanates from strategic innovation, capacity investments, and premiumisation initiatives, which position the firm to deliver double-digit domestic volume growth in CY26. The brokerage expects margins to stabilise near current levels despite near-term realisation pressures.

"We expect a CAGR of 13%/13%/16% in revenue/EBITDA/PAT over CY25-27. We value the stock at 45x CY27E EPS to arrive at a TP of Rs 550. We reiterate our BUY rating on the stock," said Motilal Oswal. 

The ongoing conflict involving the US, Israel, and Iran in West Asia has contributed to a negative outlook for the stock. The stock has already factored in the heightened competition in the fast-moving consumer goods (FMCG) and beverage sectors, the anticipated initial public offering (IPO) of Coca-Cola Beverages India, along with rising operating costs and concerns regarding overvaluation.

The FMCG stock is under bear attack with shares of the Pepsico bottler trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 150 day and 200 day simple moving averages.

Global brokerage firm Bank of America (BofA) has a price target of Rs 550. The brokerage cites positive positioning in the upcoming summer season and expansion in capacity and cash flow behind its outlook on the FMCG stock. 

According to Sharekhan, the firm is strategically positioned for long-term growth, anchored by a robust manufacturing footprint and strategic presence in both India and high-growth African markets. 

"With new greenfield plants and backward integration facilities stabilizing, the company is set to unlock significant operating leverage. Growth is also underpinned by aggressive investments in capacity, cold chain infrastructure, and distribution - particularly in India’s under-penetrated regions. Bolstered by a strong balance sheet and disciplined capital allocation, VBL remains well-positioned to capitalise on favourable demographic shifts and deliver sustainable stakeholder value," said the brokerage.