Varun Beverages soars on enhancing portfolio with PepsiCo
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Varun Beverages is currently trading at Rs. 1616.35, up by 32.75 points or 2.07% from its previous closing of Rs. 1583.60 on the BSE.
The scrip opened at Rs. 1583.00 and has touched a high and low of Rs. 1633.00 and Rs. 1572.55 respectively. So far 31613 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1673.70 on 19-Jun-2024 and a 52 week low of Rs. 785.00 on 24-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1656.70 and Rs. 1564.55 respectively. The current market cap of the company is Rs. 211160.37 crore.
The promoters holding in the company stood at 62.66%, while Institutions and Non-Institutions held 29.86% and 7.47% respectively.
Varun Beverages has enhanced its portfolio with PepsiCo. In this regard, the company’s wholly-owned subsidiary -- Varun Foods (Zimbabwe) has entered into exclusive agreement with Premier Nutrition Trading LLC, Dubai (subsidiary of PepsiCo Inc.) to manufacture, distribute & sell snacks ‘Simba Munchiez’ in the territory of Zimbabwe on or before October 1, 2025 (i.e. the expected date of start of commercial production from its own manufacturing facility).
Furthermore, the company’s subsidiary -- Varun Beverages (Zambia) has entered into exclusive agreement with Premier Nutrition Trading LLC, Dubai to manufacture, distribute & sell snacks ‘Simba Munchiez’ in the territory of Zambia on or before April 1, 2026 (i.e. the expected date of start of commercial production from its own manufacturing facility).
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
