Varun Beverages extends fall on profit booking; stock slips 10% in 3 days

Any increase in GST/cess could adversely impact the consumption of carbonated drinks and other beverages, said ICICI Securities

Shares of Varun Beverages (VBL) were down for a third straight day, falling 4 per cent to Rs 1,177 on the BSE in Thursday's intra-day trade, amid heavy volumes. In the past three trading days, the stock of the beverages' company has fallen 10 per cent. In comparison, the S&P BSE Sensex was down 0.43 per cent at 59,849 at 10:27 AM.

Average trading volumes on the counter more-than-doubled today with a combined 1.6 million shares having changed hands on the NSE and BSE till the time of writing of this report.

With the past three days' decline,