India, Oct. 1 -- The PepsiCo bottling major Varun Beverages had hoped to add value-added dairy drinks to its South African business this year. A deal signed in March was meant to do exactly that, but it did not clear the finish line by the date both sides had set. The company has now written to the exchanges explaining where things stand, what it could stand to lose, and who will settle the disagreement.

Shares of Varun Beverages Ltd are trading at Rs. 421.00, down 2.57 percent on Thursday. The stock touched the intraday high of Rs. 430.80 after opening at Rs. 428.00 before slipping to a low of Rs. 420.90. The company commands a market capitalization of Rs. 1,42,318.46 crore.

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