GlaxoSmithkline Pharma scales record high

Meanwhile, the S&P BSE Sensex was down 185.59 points or 0.94% at 19,574.71.

On BSE, 86,000 shares were traded in the counter as against average daily volume of 8,351 shares in the past one quarter.

The stock was volatile. The scrip surged as much as 15.63% at the day's high of Rs 2,899 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,555 so far during the day. The stock had hit a 52-week low of Rs 1,916 on 4 July 2012.

The stock had outperformed the market over the past one month till 31 May 2013, surging 11.21% compared with the Sensex's 1.31% rise. The scrip had also outperformed the market in past one quarter, jumping 18.81% as against Sensex's 4.77% gain.

The large-cap company has equity capital of Rs 84.70 crore. Face value per share is Rs 10.

Shares of GlaxoSmithkline Pharmaceuticals (GSK Pharma) have rallied 16.17% in two trading sessions from Rs 2,300 on 30 May 2013.

GSK Pharma's net profit surged 37.5% to Rs 169.01 crore on 1.5% growth in net sales to Rs 632.14 crore in Q1 March 2013 over Q1 March 2012.

GSK Pharma is engaged in manufacturing and marketing pharmaceutical and healthcare products such as betamethasone, cefuroxime and ranitidine.

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