Shares of Varun Beverages Ltd. rose by 2% to a day’s high of Rs 1,534 on 2nd September after the company announced the record date for its stock split.

The company has decided 12th September, 2024, as the record date for its stock split. Varun Beverages previously announced it will split its equity shares from a face value of Rs 5 to a face value of Rs 2.

Last year, the company decided to split one equity share with a face value of Rs 10 into shares with a face value of Rs 5 each.

The company has consistently rewarded shareholders through bonus issues, dividends, or stock splits.

For the second quarter ending June 2024, the company reported a 26% year-over-year increase in profit after tax (PAT), reaching Rs 1,261.83 crore.

Revenue for the quarter rose by 28% year-over-year to Rs 7,196.86 crore, up from Rs 5,611.4 crore in the same quarter of the previous year.

The stock has risen 22% so far in 2024 and has posted positive annual returns every year since its listing in late 2016.

The company’s market capitalisation rose to Rs 198,315 crore.

At 12:07 PM, the shares of Varun Beverages were trading 1.67% higher at Rs 1,526 on NSE.

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