GlaoxSmithKline Pharmaceuticals is green in this otherwise very bleak market. The stock rose 2.5% to Rs.1245 and remains around the same levels.
The market is happy with the news that it has sold 2.40 lakh sq.mtrs of its land in Thane to Oberoi Realty for Rs.889.50 crore.
A small portion admeasuring approximately 1,410 square meters, is excluded from this sale owing to a stay order passed by the Hon'ble Bombay High Court on 12th October 2017.
The company has paid a sum of Rs.337.50 crore towards obtaining all required statutory and regulatory approvals.