Varun Beverages Ltd has welcomed the recent rationalization of Corporate Tax Rates and believes that this provides an excellent impetus to drive economic growth rates in India. The company said, it looks forward to the future with excitement and intend to strengthen our growth plans in line with increasing economic activity and demand environment.
With regard to the increase in GST rates for caffeinated drinks, the effect on Varun Beverages is expected to be minimal as the incremental volumes that will come under the higher GST bracket was approximately 0.7 million cases out of 340 million cases of sales volume based upon CY 2018. The corresponding volume of H1 of CY2019 is 0.6 million cases out of 285.8 million cases.
Shares of Varun Beverages Ltd was last trading in BSE at Rs.611 as compared to the previous close of Rs. 609.55. The total number of shares traded during the day was 1845 in over 183 trades.
The stock hit an intraday high of Rs. 623.4 and intraday low of 606.1. The net turnover during the day was Rs. 1138921.