Varun Beverages seems to be having a good run today. From its yesterday’s close of Rs.811.45, the stock price opened at Rs.818 and soon jumped up to an intra day high at Rs.834.95. It has come off the day’s high but remains firmly in the green.
There is unconfirmed news that the company will be acquiring PepsiCo owned bottling, sales and distribution operations in South and West India for its carbonated drinks business.
Once this deal gets inked, Varun Beverages will have complete ownership of PepsiCo’s India bottling operations as it is already franchise partner for its bottling operations in the North and East and accounts for over 51% of its India sales volume.
The news is that the deal would cost around Rs.2500 crore.