Glaxosmithkline Pharmaceuticals rose 2.14% to Rs 2,480 at 9:18 IST on BSE after the company said its board approved sale of 60-acre land in Thane to Oberoi Realty for Rs 555 crore.
The announcement was made after market hours on Friday, 22 September 2017.Meanwhile, the S&P BSE Sensex was down 187.87 points, or 0.59% to 31,734.57.
On the BSE, 504 shares were traded in the counter so far, compared with average daily volumes of 891 shares in the past two weeks. The stock had hit a high of Rs 2,490 and a low of Rs 2,445 so far during the day.
The stock hit a 52-week high of Rs 2,999.90 on 28 October 2016. The stock hit a 52-week low of Rs 2,309.05 on 30 May 2017.
GlaxoSmithKline Pharmaceuticals said the proposed sale of land is subject to receipt of all statutory and regulatory approvals from the concerned authorities and signing of the definitive documents between the company and Oberoi Realty in this regard.
Net profit of Glaxosmithkline Pharmaceuticals declined 63.44% to Rs 26.42 crore on 14.4% decline in net sales to Rs 586.79 crore in Q1 June 2017 over Q1 June 2016.
GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer.
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