Varun Beverages gains for 12th straight day, surges 7% to hit a new high

Since January 8, the stock has rallied 23 per cent as latest shareholding data reveals that FPIs' stake in VBL touched a new high of 19.35 per cent at the end of December 2019 Since Jquarter (Q3FY20).

Shares of Varun Beverages (VBL), PespiCo’s India franchise, were trading higher for the 12th straight day, up 7 per cent at Rs 853 on the National Stock Exchange (NSE) on Thursday. The stock was trading at its new all-time high level on the bourses.

Since January 8, the stock has rallied 23 per cent as latest shareholding pattern reveals that foreign portfolio investors' (FPIs) stake in VBL touched a new high of 19.35 per cent at the end of December 2019 quarter (Q3 FY20). In comparison, the benchmark Nifty 50 index has gained 1 per cent during the same