Varun Beverages, the second-largest global bottler for PepsiCo outside the US, witnessed a nearly 1 percent rise in its stock on November 29, buoyed by the company’s recent move to establish a subsidiary in Mozambique. Trading at Rs 1067.85 on the NSE at 10:14 am, the stock reflects the positive market sentiment following this strategic expansion.
The company officially unveiled its new subsidiary, VBL Mozambique, SA, in Mozambique, as announced through an exchange filing on November 28.
This incorporation aligns seamlessly with Varun Beverages’ broader expansion strategy, focusing on bolstering its presence and distribution capabilities within the region. The move is especially aimed at enhancing the distribution network for beverages, reinforcing Varun Beverages’ commitment to global market penetration.
Varun Beverages, already active in exporting to Mozambique and various other countries, continues to strengthen its position in the global beverage market. As of 11:45 am, the shares were trading at a 0.90% increase, at ₹1,069.50