Kotak said Britannia Industries, Colgate-Palmolive and Nestle India will be the most impacted, while Godrej Consumer Products Ltd (GCPL), ITC, Jyothy Labs and Varun Beverages Ltd (VBL) will remain the least impacted by the new plastic waste management.
Shares of Pepsico bottler Varun Beverages Ltd will trade ex-dividend from April 4. The company announced an interim dividend of Rs 1.25 per share. The record date for interim dividend is also April 4. Varun Beverages stock rose 3.52% in early deals on BSE today. A total of 0.30 lakh shares of the firm changed hands, amounting to a turnover of Rs 4.33 crore on BSE. Market cap of the firm rose to Rs 1.87 lakh crore. The stock has zoomed 358% in two years and risen 539% in three years.
VBL which follows the January-December calendar reported its Q42023 profit after tax (PAT) jump by 76% year-on-year (YoY) to Rs 143.80 crore with revenue growth in the October-December quarter at 21% YoY to Rs 2,667.70 crore. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was higher by 36% YoY to Rs 418.30 crore.
Multibagger stock: Varun Beverages shares were trading flat at Rs 1225.95 against the previous close of Rs 1235.75 on BSE. Market cap of the firm stood at Rs 1.59 lakh crore.