GlaxoSmithKline Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 18 May 2021.

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The Board of GlaxoSmithKline Pharmaceuticals at its meeting held on 30 March 2021 approved the sale of the Company's business undertaking i.e., manufacturing facility together with the land, plant and machinery, assets, software and equipment located at Vemgal, Karnataka to Hetero Labs.

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The stock has corrected 7.95% in seven sessions from its recent closing high of Rs 1,544.20 recorded on 5 March 2021.

In the past one year, the stock has risen 14.22% while the benchmark Sensex surged 64.83% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 38.410. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 1487.43, 1501.06 and 1509.85, respectively.

Glaxosmithkline (GSK) Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies.

On a consolidated basis, the company reported net profit at Rs 156.51 crore in Q3 December 2020 compared with net loss of Rs 661.16 crore in Q3 December 2019. Net sales jumped 10.1% to Rs 857.20 crore in Q3 FY21 from Rs 778.59 crore in Q3 FY20.

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Net profit of Glaxosmithkline Pharmaceuticals reported to Rs 156.51 crore in the quarter ended December 2020 as against net loss of Rs 661.16 crore during the previous quarter ended December 2019. Sales rose 10.10% to Rs 857.20 crore in the quarter ended December 2020 as against Rs 778.59 crore during the previous quarter ended December 2019.

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