Multibagger in just 1 year; Board announced stock split!
The stock gave multibagger returns of 101 per cent in just 1 year whereas BSE Sensex Index was up by 9 per cent.
On Wednesday, the benchmark indices ended the day lower. BSE Sensex was down by 0.26 per cent at a level of 61,193.30 and NSE Nifty-50 Index was down by 0.32 per cent at a level of 18,089.85.
Despite being a weak market, one of the gainers on BSE was shares of Varun Beverages Ltd, which zoomed 2.68 per cent to Rs 1,455 per share. The stock has received heavy buying in recent trading sessions.
Varun Beverages Ltd announced that a meeting of the Board of Directors of the company has approved the sub-division/split of existing equity shares of the company from 1 equity share having a face value of Rs 10 each fully paid-up, into 2 equity shares having face value of Rs 5 each fully paid-up, subject to the approval of equity shareholders of the company through postal ballot. The record date for sub-division/split of existing equity shares shall be decided after taking aforesaid approval of the equity shareholders of the company.
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Varun Beverages Ltd has been associated with PepsiCo since the 1990s and is a key player in the beverage industry and one of the largest franchisees of PepsiCo in the world.
The shares of the company have an ROE of 33.50 per cent and a ROCE of 27.85 per cent. The stock gave multibagger returns of 101 per cent in just 1 year whereas BSE Sensex Index was up by 9 per cent.
Investors should keep an eye on this Large-Cap stock.