GlaxoSmithKline Pharmaceuticals share price: Shares of GlaxoSmithKline Pharmaceuticals soared over 17% on Tuesday after the board of directors announced a bonus issue in the ratio of 1:1 along with the results for the quarter ended June 2018. The pharmaceutical company posted a massive 235.31% year-on-year rise in net profit for Q1 2018. Shares of GlaxoSmithKline on Tuesday surged by 17.46% to a fresh 52-week high of Rs 3,249 on the BSE.
On Tuesday’s closing, the market capitalisation of GSK Pharma stood at Rs 26,689.07 crore. Shares of GlaxoSmithKline Ltd. closed Tuesday’s trade higher by 13.91% at Rs 3,150.90 per share on the BSE. The stock of GlaxoSmithKline Ltd. is listed among the pack of ‘A’ group of companies on the BSE.
“The Board considered, approved and recommended a bonus issue of one equity share for every equity share held as on a record date to be determined,” GlaxoSmithKline Ltd. said in a regulatory filing to the BSE on Tuesday. “The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted,” it added.
GlaxoSmithKline Pharmaceuticals Ltd. in its results for the first quarter ended June 2018 today posted a 235.31% year-on-year rise in net profit to Rs 88.59 crore for the quarter ended June from Rs 26.42 crore posted in the corresponding quarter last year. Total income of the pharma company rose by 21.35% to Rs 753.43 crore during the quarter under review from Rs 620.84 crore posted during the like period of last year, the BSE filing showed.
