GSK Pharma Plc’s open offer to acquire 24.3 per cent stake in its Indian subsidiary GSK Pharma (India) did not open on Friday as earlier announced. There has been no formal notification from the company to the stock exchanges yet. It closed flat at ₹2,975 on Friday. Following a 22 per cent surge in mid-December 2013, the stock has been moving sideways in the ₹2,900 and ₹3,000 band. A fall below ₹2,900 may drag it to ₹2,750. But, should the stock breach ₹3,000, the upside is ₹3,100.
GSK Pharma open offer delayed
Published on
February 7, 2014 16:35
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