Upgrade Varun Bev, HUL & Asian Paints To Buy From Underperform
Upgrade Asian Paints To Buy, Target Raised To ₹2,830 From 2,200/sh
Upgrade Varun Beverages To Buy, Target Raised To ₹650 From *560/sh
Several Consumer Firms Have Faced Severe Issues In Past Few Qtrs On Growth
Competition & Margin Weighed On Share Prices
See Gradual Improvement In Some Issues, Even While Others Like Competition May Persist
However, Believe That Several Stocks Factor In These Risks
See Limited Downside But A Meaningful Upside In Case Of A Turn