Varun Beverages trades higher on incorporating subsidiary company in Mozambique
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Varun Beverages is currently trading at Rs. 1069.10, up by 11.20 points or 1.06% from its previous closing of Rs. 1057.90 on the BSE.
The scrip opened at Rs. 1067.00 and has touched a high and low of Rs. 1073.50 and Rs. 1062.65 respectively. So far 9605 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1075.00 on 28-Nov-2023 and a 52 week low of Rs. 550.00 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1075.00 and Rs. 1031.10 respectively. The current market cap of the company is Rs. 138827.62 crore.
The promoters holding in the company stood at 63.10%, while Institutions and Non-Institutions held 30.91% and 6.00% respectively.
Varun Beverages has incorporated a subsidiary company in Mozambique in the name of 'VBL Mozambique, SA’, inter-alia to carry on the business of distribution of Beverages. It will help the company to expand its business operations in Mozambique.
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
