GlaxoSmithKline Pharmaceuticals Limited, a subsidiary of GSK plc, has announced a special interim dividend of ₹12 per share, with a record date set for November 7, 2024. This decision was made following the company’s strong performance in the September quarter, where it recorded a 16% year-over-year increase in consolidated net profit, reaching ₹252 crore, up from ₹217 crore in the same period last year. Additionally, the company’s revenue from operations grew to ₹1,010 crore, compared to ₹957 crore in the previous year, resulting in a 7% increase in half-year revenue, totaling ₹1,811 crore.
Managing Director Bhushan Akshikar highlighted the company’s commitment to sustainable growth and innovation. He also mentioned a shingles disease awareness campaign featuring Amitabh Bachchan, which has significantly raised awareness about shingles prevention in India.
Currently, GSK’s shares are trading around ₹2,597. Analysts note that the stock is in a bearish trend, positioned below key moving averages, with immediate support levels identified at ₹2,440 and ₹2,400. To manage risk, a stop-loss of ₹2,350 is recommended. If the stock reverses at these support levels, it could present a potential buying opportunity for investors.
Disclaimer: This information is for informational purposes only and should not be considered financial advice. Please consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
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