Manpasand Beverages up 2% on output capacity expansion plans

Shares of Manpasand Beverages rose over 2 percent intraday Tuesday after the company announced its plan to double production capacity in next 12-18 months.Four new plants are going to be set up in the future, the company announced. "Land has been acquired and construction has started at three of the new plants, which will be located in Sri City in Andhra Pradesh, Varanasi in UP and Vadodara in Gujarat. The company is in the process of finalising the location for the fourth plant in eastern India," it said in a notification to the exchanges. The four new plants would have a total production capacity of 2 lakh cases per day as against its current production capacity of 1.7 lakh cases per day. The stock has seen sharp uptick in the past 15 days, with the scrip having risen 15.6 percent. At 14:59 hrs Manpasand Beverages was quoting at Rs 617.70, up Rs 11.10, or 1.83 percent, on the BSE. It has touched an intraday high of Rs 620.00 and an intraday low of Rs 610.00.