GSK Pharma hits record high ahead of Q1 results

GlaxoSmithKline Pharmaceuticals spurted 5.98% to Rs 2,456 at 10:16 IST on BSE ahead of the company's Q1 March 2013 result announcement today, 7 May 2013.

Meanwhile, the BSE Sensex was up 115.96 points, or 0.59%, to 19,789.60.

On BSE, 8,618 shares were traded in the counter as against an average daily volume of 7,930 shares in the past one quarter.

The stock hit a high of Rs 2,522 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 2,310.25 so far during the day. The stock had hit a 52-week low of Rs 1,916 on 4 July 2012.

The stock had underperformed the market over the past one month till 6 May 2013, rising 5.59% compared with the Sensex's 6.63% rise. The scrip had, however, outperformed the market in past one quarter, rising 12.41% as against Sensex's 0.17% rise.

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

GlaxoSmithkline Pharmaceuticals' (GSK Pharma) net profit rose 1.3% to Rs 138.51 crore on 16% growth in net sales to Rs 656.69 crore in Q4 December 2012 over Q4 December 2011.

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

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