Varun Beverages rallies 5%, hits record high on strong earnings hope

VBL is expected to benefit from a strong recovery going forward, led by growing out-of-home consumption, with the opening up of offices and traveling, uptick in volumes in new territories

Shares of Varun Beverages (VBL) hit a record high of Rs 805.45, soaring 5 per cent on the BSE in Wednesday's intra-day trade.  In comparison, the S&P BSE Sensex was down 0.15 per cent at 52,613 points at 09:22 AM.

The stock has surged 8 per cent in the past two days, in an otherwise a weak market, on expectations of strong earnings.

Moreover, in the past three months, VBL has outperformed the market by surging nearly 35 per cent, as compared to 7 per cent decline in the benchmark index. VBL went ex-bonus on June 6th, in the