Special Interim Dividend of Rs. 12: 7th November Record Date; Buy For Monetary Deal?

GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of GSK plc, a worldwide healthcare organisation driven by research that aims to bring talent, science, and technology together to prevent ailments. Go to GSK-India.com to learn more. A subsidiary of GSK, GlaxoSmithKline Pharmaceuticals Ltd. is an Indian pharmaceutical and healthcare research firm.

GlaxoSmithKline Pharmaceuticals Dividend

"This is further to our letter dated 29th October 2024 wherein the Company had informed, inter alia, regarding declaration of Special Interim Dividend for the financial year 2024-25. Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Record date has been fixed as Thursday, 7th November 2024 for the purpose of ascertaining the entitlement of Members to the Special Interim Dividend of Rs. 12.00 per share (on the face value of Rs. 10/- each) on the equity shares of the Company for the financial year 2024-25 declared by the Board of Directors of the Company in their meeting held on 29th October, 2024. The above said declared interim dividend, subject to tax deduction at source (TDS) as per the provisions of Income Tax Act, 1961, shall be paid and the dividend will be credited within 30 days from the date of declaration of Special Interim Dividend as provided in the Companies Act, 2013," said GlaxoSmithKline Pharmaceuticals in a stock exchange filing.

GlaxoSmithKline Pharmaceuticals Financials

In the September quarter, GlaxoSmithKline Pharmaceuticals recorded a 16 per cent year-over-year growth in its consolidated net profit to Rs 252 crore. For the July-September quarter of the previous fiscal year, the pharmaceutical company reported a net profit of Rs 217 crore. GlaxoSmithKline Pharmaceuticals said in a regulatory filing that its revenue from operations increased to Rs 1,010 crore for the September quarter from Rs 957 crore for the same period last year. The firm generated Rs 1811 crores in revenue from operations for the half-year that ended on September 30, 2024, representing a 7% growth. With EBITDA margins at 30%, the half-year profit before tax, which was Rs 583 crores, increased by 27%.

Commenting on the results, Mr. Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said, "As we mark our centenary year in India, we are happy to announce a special interim dividend to our shareholders. Our performance reflects our commitment to sustainable growth and innovation. Furthermore, our shingles diseases awareness campaign featuring Mr. Amitabh Bachchan has significantly elevated the discussion around Shingles prevention, reinforcing our focus in preventive healthcare in India."

GlaxoSmithKline Pharmaceuticals Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "GLAXO is currently trading at Rs 2,597 and has recently been trending within a descending parallel channel. The stock appears poised to break through the midpoint of this channel, potentially leading to further downside movement toward the lower channel boundary near Rs 2,460. Additionally, with the price trading below the 100-day EMA, there is an indication of increased selling pressure. This could drive the price further down toward the 200-day EMA, currently positioned at Rs 2,441. On the downside, immediate support levels are identified at Rs 2,440 and Rs 2,400, which may present a potential buying opportunity on dips should a reversal occur. The Relative Strength Index (RSI) currently stands at 41.8 and is trending downward, suggesting that further correction toward these support levels is possible."

"To manage risk effectively, a stop-loss (SL) at Rs 2,350 is recommended to protect against unexpected market reversals. Based on the technical indicators and prevailing market conditions, GLAXO exhibits a bearish trend characterized by lower highs and lower lows, likely to correct further toward the Rs 2,440 level. If signs of reversal emerge at this support, a buying opportunity could be considered, provided that proper risk management measures, including a stop-loss, are in place," the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.