India's GlaxoSmithKline Pharma hits record high

Gland Pharma

27/12/2023 07:30

** Shares of GlaxoSmithKline Pharmaceuticals  GLAX.NS  rise
~5% to 1,848 rupees, an all-time high 
    ** Stock among top gainers on 20-member nifty pharma index
 .NIPHARM  
    ** Reuters could not immediately ascertain a reason for the
stock move 
    ** Drugmaker's stock currently trading up ~2%; on track for
fourth consecutive session of gains, if trend holds
    ** GLAX set for best quarter since Dec-qtr in 2021 
    ** Stock trading ~19% above its median PT of 1,515 rupees -
LSEG
    ** Trading volume 1.4x the 30-day moving average
    ** Avg rating of five analysts on GLAX at "hold" - LSEG data
    ** Stock up ~36% YTD vs a ~31% climb in the pharma index 
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))