CNBC-TV18 has learnt that Varun Beverages will begin manufacturing Kurkure Puffcorn for PepsiCo India.
This is the first time the company has forayed into non-beverage manufacturing. Before this they would manufacture all the beverages for PepsiCo India itself and this is where the big potential is.
According to Jefferies, this move is a precursor to something big in the company overtime and Varun Beverages is known to have a strong relationship with PepsiCo. They are also known as a strong execution powerhouse. The firm has a buy rating on the stock with a target price of Rs 1,215.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
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