INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of GlaxoSmithKline Consumer Healthcare jumped over 6 per cent on BSE during Tuesday's trade on reports that Coca-Cola is
set to buy GlaxoSmithKline's consumer nutrition business.
As per a report in ET, Coca-Cola is set to join global consumer food giants
Nestle, Danone and Hindustan Unilever and others in the $4-billion-plus pursuit to buy GlaxoSmithKline's consumer nutrition business
Coke has mandated Citi to help them in the competitive bidding process expected to launch next week
Around 11:15 am, the scrip was trading 6.08 per cent up at Rs 6,443.60.
The stock opened at Rs 6,077 and touched high and low of 6,470 and
Equity markets were subdued, barring sporadic gains, tracking weakness in global stocks
Worries around a trade war between the US and world's other economies continued keeping the sentiment down.
Among the sectoral indices on
BSE, energy, healthcare, auto, industrials and power were experiencing the heat of selling.
Tata Motors, Reliance Industries, ICICI Bank and
Hero MotoCorp were among the top drags on the Sensex index.
Coal India, however, rose over 3 per cent, leading the pack of Sensex gainers
