GSK Consumer slumps on strategic review of Horlicks

GlaxoSmithkline Consumer Healthcare lost 7.54% to Rs 6,150 at 12:52 IST on BSE after the company announced that parent firm plans to carry out a strategic review of Horlicks and its other consumer nutrition products.

The announcement was made after market hours yesterday, 27 March 2018.

Meanwhile, the S&P BSE Sensex was down 110.78 points, or 0.33% to 33,063.61

On the BSE, 4,078 shares were traded in the counter so far compared with average daily volumes of 2,246 shares in the past two weeks. The stock had hit a high of Rs 6,780 and a low of Rs 6,162 so far during the day. The stock hit a 52-week high of Rs 6,888.45 on 22 February 2018. The stock hit a 52-week low of Rs 4,856.05 on 29 September 2017.

The large-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

GlaxoSmithkline Consumer Healthcare (GSK Consumer) said that the announcement by GlaxoSmithKline plc (GSK) of its intent to carry out a strategic review of GSK's Horlicks and its other consumer nutrition products which will include an assessment of its 72.45% shareholding in the company.

GSK Consumer's net profit rose 19.98% to Rs 163.66 crore on 20.26% rise in net sales to Rs 1034.67 crore in Q3 December 2017 over Q3 December 2016.

GlaxoSmithkline Consumer Healthcare Consumer Healthcare is the category leader in Indian health food drinks industry.

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