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On November 6, 2019, the Mumbai Bench of the NCLT had sanctioned the scheme and the order was subject to sanction of the Chandigarh Bench of NCLT.
Sharekhan recommended hold rating on GlaxoSmithKline Consumer Healthcare with a target price of Rs 7931 in its research report dated August 05, 2019.
Prabhudas Lilladher recommended hold rating on GlaxoSmithKline Consumer Healthcare with a target price of Rs 7972 in its research report dated August 05, 2019.
The company had posted a net profit of Rs 200.44 crore for the corresponding period of the previous fiscal, GlaxoSmithKline Consumer Healthcare said in a BSE filing.
Sharekhan recommended Hold rating on GlaxoSmithKline Consumer Healthcare with a target price of Rs 7931 in its research report dated May 13, 2019.
Total income in the latest quarter was up 11.48 per cent to Rs 1,408.95 crore as against Rs 1,263.75 crore in the year-ago period.
The brokerage also slashed its price target by 7.4 percent to Rs 8,330 from Rs 9,000 apiece earlier as healthy volume growth and margin tailwinds may be behind.
The Competition Commission of India (CCI) has approved the scheme of amalgamation between the two companies, through an-all equity deal, valuing the total business of the latter at Rs 31,700 crore.
Net Sales are expected to increase by 10.5 percent Y-o-Y (down 10.1 percent Q-o-Q) to Rs. 1,143.3 crore, according to Prabhudas Lilladher.
Nifty Media was the underperforming sector, down 1.5 percent dragged by Zee Entertainment which shed 2 percent followed by DB Corp, Jagran Prakashan, UFO Moviez and PVR.
Agarwal also said it's a good time to take a re-look at HUL after its deal with GSK Consumer Healthcare.
HUL-GSK Consumer transaction is expected to be completed in one year subject to regulatory and shareholder approvals.
The company had posted a net profit of Rs 192.41 crore in the July-September quarter a year ago, GlaxoSmithKline Consumer Healthcare said in a filing to BSE.
GlaxoSmithKline Consumer Healthcare has reported a sales total income from operations of Rs 1,107.14 crore and a net profit of Rs 200.44 crore for the quarter ended Jun-2018
The company had posted a net profit of Rs 160.61 crore in the same period last fiscal, GSKCH said in a BSE filing.
According to Satish Gupta of astrostocktips, food processing stocks like Jubilant Foodworks, Nestle India, DFM Food, Varun Beverages and GlaxoSmithKline Consumer Healthcare to get astrological support.
The stock is trading at 26x FY2019 earnings and it has underperformed Sensex by 27 percent and 4 percent over last one and three years and Deutsche Consumer basket by 32 percent and 52 percent respectively,” the research firm said.
Axis Direct is bullish on Glaxosmithkline Consumer Healthcare has recommended buy rating on the stock with a target price of Rs 5950 in its research report dated May 18, 2017.
Edelweiss recommended hold rating on Glaxosmithkline Consumer Healthcare with a target price of Rs 5657 in its research report dated May 11, 2017.
The index provider FTSE Russell will also add UPL, LIC Housing Finance and Piramal Enterprises to its large cap index. These changes will be effective from March 20, 2017.