115% Rally In 1-Yr: FMCG Stock Jumps 2 Days Before Record Date Of 1:2 Stock Split

Key player in beverage industry and one of the largest franchisees of PepsiCo in the world (outside the USA), Varun Beverages Ltd shares have been witnessing a rally for third straight session in a row. It is worth noting that the record date for stock split of the FMCG stock is just 2 days away. Board of directors of Varun Beverages on June 5, 2023 fixed June 15, 2023 as the record date for 1:2 sub-division of shares. Check details below:

What Is Stock Split? When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. The companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

Varun Beverages Fixed June 15 As Record Date For Stock Split: As per the BSE filing of the company, ""This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors fixed Thursday, June 15, 2023 as the 'Record Date' for determining entitlement of Equity Shareholders for the purpose of sub-division / split of existing Equity Shares of the Company from 1(One) Equity Share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up, into 2 (Two) Equity Shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up, as approved by the Equity Shareholders through Postal Ballot on June 2, 2023."

Varun Beverages Stock Performance & Return: Current market price of Varun Beverages stock is Rs 1616.55 per share with intraday gain of 1.31% as of June 13, 2023 on BSE. Shares of Varun Beverages witnessed a spurt in volume by over 1.47 times on June 12 and 1.01 times spurt on June 9, 2023. Its 52-week high price is quoted at Rs 1747.15 per share and 52-week low price is quoted at Rs 716.65 apiece, respectively. Its market capitalisation is Rs 1,05,004.30 crore.

Varun Beverages About: Varun Beverages Limited is a leading player in beverage industry. It is one of the largest franchisees of PepsiCo in the world (outside USA). The Company manufactures, distributes and sells a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo, according to its LinkedIn page.

Disclaimer: The stock will ex-split in 2 days. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.