Varun Beverages zooms 48% in 9-days post PepsiCo franchises deal

The stock moved higher by 17% to Rs 762 on the BSE in noon deal, its highest level since listing on November 8, 2016.

Varun Beverages moved higher by 17% to Rs 762 on the BSE in noon deal after a block deal executed on the counter. At 10:33 AM; around 900,273 equity shares representing 0.49% of total equity of the company changed hands on the BSE, the exchange data shows. The stock hit its highest level since listing on November 8, 2016.

VBL is one of the largest franchisees in the world (outside USA) of carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) for PepsiCo.

In past nine trading sessions, the stock has rallied 48% from Rs 516 on December 19,