GSK Pharma surges 11%, hits 52-week high on improved outlook

The management expects this positive momentum to continue through the second half of the year driving the company towards the better end of a meaningful performance improvement.

Shares of GlaxoSmithKline Pharmaceuticals (GSK Pharma) hit a fresh 52-week high at Rs 1,797, on ralling 11 per cent on the BSE in Thursday’s intra-day trade on improved business outlook. The stock of the drug maker has surpassed its previous high of Rs 1,766 touched on July 27, 2021. It had hit a record high of Rs 1,925 on March 31, 2016.

In the past one month, GSK Pharma has outperformed the market by surging 22 per cent, after the company reported a strong set of numbers for the quarter ended September 2021 (Q2FY22). In comparison, the S&P BSE