GSK Consumer falls around 1% after Nomura cuts target price to Rs 5,271
Nomura, in its report, stated that growth pressures on the stock continue to remain, while long-term headwinds remain intact.
Moneycontrol News
GSK Consumer Healthcare was in focus on Monday as the stock fell around a percent after a global brokerage house lowered the target price on the stock.
Nomura, in its report, stated that growth pressures on the stock continue to remain, while long-term headwinds remain intact.
It remained neutral on the stock, but lowered the target price to Rs 5,271 from Rs 5,538.
Furthermore, it also said that there was a need to have strong innovation in formats, along with adjacent products and pack sizes is needed.
It also said that a recent introduction into saches and increased marketing spend could be a step in the right direction, it added.
The stock fell around 8 percent in the past one month, while its two-day loss stood at 2 percent.
At 11:08 hrs GlaxoSmithKline Consumer Healthcare was quoting at Rs 4,909.00, down Rs 63.10, or 1.27 percent, on the BSE. It touched an intraday high of Rs 4,972.00 and an intraday low of Rs 4,909.00.
