Varun Beverages surges on incorporating wholly-owned subsidiary
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Varun Beverages is currently trading at Rs. 1598.05, up by 42.05 points or 2.70% from its previous closing of Rs. 1556.00 on the BSE.
The scrip opened at Rs. 1559.00 and has touched a high and low of Rs. 1605.00 and Rs. 1559.00 respectively. So far 37811 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1654.00 on 11-May-2023 and a 52 week low of Rs. 697.25 on 31-May-2022.
Last one week high and low of the scrip stood at Rs. 1614.50 and Rs. 1541.00 respectively. The current market cap of the company is Rs. 104237.83 crore.
The promoters holding in the company stood at 63.90%, while Institutions and Non-Institutions held 29.68% and 6.42% respectively.
Varun Beverages has incorporated a wholly-owned subsidiary company namely ‘Varun Beverages South Africa (PTY)’ in Johannesburg, South Africa. The objective of incorporating subsidiary is inter-alia to explore the business of manufacturing and distribution of beverages. It will help the company to expand its business operations in Africa.
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
