Varun Beverages stock just 2% shy of its all-time high; here’s what is the news

Shares of Varun Beverages -one of the largest franchisee in the world (outside US) of carbonated soft drinks (“CSDs”) and non-carbonated beverages (“NCBs”)  traded close to their all-time high as the company is slated to report its Q1 earnings later today.

The company also will delve on its second stock split today. Earlier before last year, the company in a stock split changed its face value from Rs 10 per share to Rs 5 per share.

"Proposal for sub-division/split of existing Equity Shares of the Company having a face value of Rs. 5/- each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of Equity Shareholders of the Company and other applicable approval(s) (if any), " added the company's filing with the exchanges.

Further, please note that the Company is following 1st January to 31st December as its Financial Year in terms of Section 2(41) of the Companies Act, 2013 as approved by the Company Law Board, it added.

Earlier before in a filing it provided that Varun Beverages RDC SAS (wholly-owned subsidiary of our Company) has started commercial production of carbonated soft drinks and packaged drinking water at its production facility at Kinshasa, Democratic Republic of Congo.

Varun Beverage's share price performance

Over the last one year, the stock of Varun Beverages has zoomed 108 per cent. At the last count, ahead of its results later today, the stock traded on a subdued note with a cut of 0.6 per cent at Rs 1,675.85 per share on the BSE. The stock last week marked its fresh 52-week high price.