What to watch. Varun Beverages to turn ex-bonus

Shares of Varun Beverages will turn ex-bonus on Thursday. The company is rewarding its shareholders with one bonus share for two shares held in the company (i.e. 1:2). Investors wishing to receive the bonus shares need to own the company’s shares by Wednesday, as Varun Beverages has fixed July 27 as the record date to identify eligible shareholders to receive the bonus shares. According to the BSE web site, this is the maiden bonus issue from Varun Beverages.