Varun Beverages soars 9%, hits new high on bonus issue plan, healthy Q1 nos

On the back of an improving demand environment, the management remains confident of delivering healthy volume growth in the medium to longer term

Shares of Varun Beverages (VBL) hit a new high of Rs 1,152.75 after they rallied 9 per cent on the BSE in Friday's intra-day trade after the board recommended bonus shares in the proportion of 1:2 i.e. 1 equity share for every 2 equity share held by the shareholders of the company as on the record date.

For January-March quarter (Q1CY22), VBL posted robust 26.2 per cent year-on-year (YoY) sales growth, supported by strong 19 per cent YoY volume growth across geographies, and 6 per cent YoY higher realization. Volume growth was led by the early onset of summer