GSK's India arm slips on Q3 profit fall

GlaxoSmithKline Pharmaceuticals

13/02/2024 07:31

** Shares of GlaxoSmithKline Pharmaceuticals  GLAX.NS  fall
as much as 10.6% to 2,091 rupees, lowest since Jan. 10
    ** The pharma co said on Monday its consol profit before
exceptional items and tax for Dec-qtr fell ~3% Y/Y
    ** More than 420,000 shares change hands, 1.3x its 30-day
avg
        ** Stock eyes fifth straight session of losses
  
    ** Five analysts covering the stock on avg have a "hold"
rating; median PT is 1,669 rupees - LSEG data
    ** Stock down ~4% so far in Feb; on track to snap three
consecutive monthly gains until Jan, if trend holds


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))