Varun Beverages is today kicking up quite a brew! The stock price today hit an intra day high at Rs.497.25, so close to its 52-week high of Rs.499. Since then it retreated and is now at Rs.485, up 3%.
The market is very happy because it announced its decision to set up a new manufacturing unit in Uttar Pradesh.
Varun is bottler for PepsiCO and this new unit coming up in Hardoi will manufacture a range of Pepsi products in the unit.
No details of the cost of the new unit, capacity and other details have been mentioned by the company yet the market is just happy that new capacity will add to the profitability eventually.