Share Market Tips

GlaxoSmithKline Consumer Healthcare (GSK Consumer Healthcare), known for its malted food drinks brand Horlicks, hit an upper circuit limit of 20% to Rs 3,651.80, which is also a record high for the counter. The stock topped the gainers in the BSE's 'A' group.

The stock surged as the company's foreign parent GlaxoSmithKline Plc plans to raise its stake in the Indian firm to 75% from 43.16% through an open offer. The announcement was made before trading hours today, 26 November 2012.

GlaxoSmithKline Plc along with its units will buy up to 1.33 crore shares, or 31.84% in GlaxoSmithKline Consumer Healthcare (GSK Consumer Healthcare), at Rs 3,900 per share, said HSBC Securities, the manager to the offer, in a statement. At present GlaxoSmithKline Group holds 1.81 crore shares, or 43.16% of the voting share capital of GSK Consumer Healthcare (as on 30 September 2012).

AstraZeneca Pharma India spurted 12.18% to Rs 1,519.85. The stock was second biggest gainer in 'A' group.

Air carrier Jet Airways (India) jumped 10.81% to Rs 560.40 on reports the company is close to selling a 24% stake to Middle-Eastern carrier Eithad Airways in a potential $400 million deal. The stock was third biggest gainer in 'A' group. The stock hit a 52-week high of Rs 598.80 in intraday today, 26 November 2012.

Pharmaceutical company Strides Arcolab rose 8.82% to Rs 1,062.15. The stock was fourth biggest gainer in 'A' group. The stock hit a record high of Rs 1,109 in intraday today, 26 November 2012.

Commercial vehicles maker Eicher Motors rose 7.54% to Rs 2,610. The stock was fifth biggest gainer in 'A' group.