GlaxoSmithKline Pharmaceuticals rises on receiving nod to sell Thane land for Rs 555 crore

25 Sep 2017 Evaluate

GlaxoSmithKline Pharmaceuticals is currently trading at Rs. 2441.50, up by 13.45 points or 0.55% from its previous closing of Rs. 2428.05 on the BSE.

The scrip opened at Rs. 2485.00 and has touched a high and low of Rs. 2490.00 and Rs. 2441.00 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2999.90 on 28-Oct-2016 and a 52 week low of Rs. 2309.05 on 30-May-2017.

Last one week high and low of the scrip stood at Rs. 2490.00 and Rs. 2380.00 respectively. The current market cap of the company is Rs. 20,680.00 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 12.18% and 12.82% respectively.

GlaxoSmithKline Pharmaceuticals has received an approval for sale of its land admeasuring approximately 60 acres located at Thane, Maharashtra to Oberoi Realty for a consideration of Rs 555 crore. The board of directors at its meeting held on September 22, 2017 has approved for the same.

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.

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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