GlaxoSmithKline Pharmaceuticals Limited, the Indian subsidiary of GSK plc, a global healthcare and research company, recently announced a special interim dividend of ₹12 per share for the financial year 2024-25. Shareholders eligible for this dividend will be identified based on a record date of Thursday, November 7, 2024. In compliance with the Companies Act, 2013, the dividend, subject to tax deduction at source (TDS) as per the Income Tax Act, 1961, will be credited within 30 days from its declaration.
For the July-September quarter of 2024, GlaxoSmithKline Pharmaceuticals reported strong financial performance, with consolidated net profit rising 16% year-over-year to ₹252 crore, compared to ₹217 crore in the same quarter of the previous year. The company’s revenue from operations also saw growth, reaching ₹1,010 crore, up from ₹957 crore. For the half-year period ending September 30, 2024, revenue rose 7% to ₹1,811 crore, with EBITDA margins at 30%. Profit before tax for the half-year grew by 27%, totaling ₹583 crore. Managing Director Bhushan Akshikar remarked that the company’s centenary year in India underscores its commitment to growth and innovation, with an emphasis on preventive healthcare, highlighted by a shingles awareness campaign featuring actor Amitabh Bachchan.
From a technical analysis perspective, analyst Mandar Bhojane of Choice Broking notes that the stock is currently trading at approximately ₹2,597 and has been moving within a descending parallel channel, suggesting potential further downside. If this trend continues, the stock could approach support levels around ₹2,460 and potentially as low as ₹2,440, with the 100-day and 200-day EMAs acting as indicators of selling pressure. Immediate support levels are identified at ₹2,440 and ₹2,400, which could present buying opportunities if a reversal occurs. Bhojane recommends a stop-loss at ₹2,350 to protect against any unexpected market reversals, as the stock shows a bearish trend marked by lower highs and lows.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
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