Bengaluru, July 10 -- The shares of this FMCG beverage-based company are in focus after it has corrected by over 31 percent from its peak and in the last year has delivered a negative return of 28 percent, despite strong fundamentals. So, what's leading to the correction?

With a market capitalization of Rs 1,55,636 crores, the shares of Varun Beverages Ltd are currently trading at Rs 460 per share. However, over the past five years, the stock has delivered a robust return of 662 percent.

The company is the second largest franchisee of PepsiCo in the world (outside the US) with operations spanning across 10 countries with franchise rights and an additional 4 countries with distribution rights. It has a vast portfolio in which major names...