Varun Beverages Limited — Others, 03-12-2024: News Verification

Varun Beverages has responded to inquiries regarding media reports suggesting a potential GST hike to 35% for aerated drinks, following a Group of Ministers' preliminary recommendations. The company acknowledges the speculation but emphasizes that these discussions are still in their early stages. As there are no confirmed changes or material information to disclose, they assert that the recent drop in share prices is a market-driven response. Investors should remain cautious, as further developments could impact profitability, though current conditions do not suggest immediate risk.