Shares of Varun Beverages have been rising consistently over the past few sessions due to prospects of firm demand for cold drinks and beverages with the onset of summer.
Varun Beverages Limited is an Indian company that produces, bottles and distributes beverages. It is the second largest bottling company of PepsiCo's beverages in the world outside the US.
At 2.25 p.m., the shares of the company traded 2.6 per cent up at Rs 1,036 per share, which is reportedly also its all-time high. Since the start of 2022, it rose nearly 18 per cent.
It is said that demand for cold drinks and ice creams took a hit during the past two years as consumers feared that consuming such products might lead to cough and cold and subsequently the COVID-19.
Also, out-of-home consumption took a beating due to the stringent lockdowns put in place to curb spread of the virus.
(With inputs from IANS)