GSK Pharma declines 20.11% in six days

GlaxoSmithKline Pharmaceuticals lost 2.82% to Rs 2,439 at 15:25 IST on BSE, with the stock extending its recent steep losses.

Meanwhile, the S&P BSE Sensex was down 78.25 points, or 0.36%, to 21,856.58

On BSE, so far 29,995 shares were traded in the counter, compared with an average volume of 12,134 shares in the past one quarter.

The stock hit a high of Rs 2,555 and a low of Rs 2,433 during the day. The stock hit a record high of Rs 3,054.40 on 3 March 2014. The stock hit a 52-week low of Rs 2,100.25 on 15 March 2013.

The stock had underperformed the market over the past one month till 10 March 2013, falling 15.71% compared with the Sensex's 7.87% rise. The scrip also underperformed the market in past one quarter, rising 0.8% as against Sensex's 3.2% rise.

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

Shares of GlaxoSmithkline Pharmaceuticals (GSK Pharma) lost 20.11% in six trading days from a recent high of Rs 3,053.05 on 3 March 2014.

GlaxoSmithKline PLC said late on Sunday, 9 March 2014, that following the voluntary open offer undertaken by its subsidiary, GlaxoSmithKline Pte, it has increased its stake in GSK Pharma, from 50.7% to 75%. GlaxoSmithKline Pte accepted 20.61 million shares from the shareholders of GSK Pharma, representing 24.33% of the total shares outstanding through the open offer, which started on 18 February 2014 and ended on 5 March 2014. The offer of Rs 3,100 per share values the transaction at Rs 6400 crore.

GSK Pharma's net profit fell 15.61% to Rs 116.88 crore on 1.5% decline in total income to Rs 693.45 in Q4 December 2013 over Q4 December 2012.

GSK Pharma is engaged in the business of manufacturing, distributing and trading in pharmaceuticals. The company's product portfolio includes prescription medicines and vaccines. Its prescription medicines range across therapeutic areas such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular diseases and respiratory diseases.

Powered by Capital Market - Live News