The GlaxoSmithKline Consumer Healthcare stock rose in early trade amid a report that global soft drinks behemoth Coca Cola was planning to buy the former's consumer nutrition business. The GSK stock rose as much as 6.52% or a massive 395 points to trade at 6470 level on the BSE.
The stock opened at 6,077 level on BSE today.
It has been gaining for the last two days and has risen 6.97% during the period.
It has risen 20.06% during the last one year and is down 1.50% since the beginning of this year.
According to a report in The Economic Times, Coca Cola has mandated Citi to help them in the competitive bidding process expected to be launched next week to buy the manufacturer of famous brand Horlicks.
Nestle, Danone and HUL among other firms are also eyeing GlaxoSmithKline's consumer nutrition business.
Consumer healthcare products of GlaxoSmithKline Consumer Healthcare include Horlicks, Boost, and Maltova among others.
The maker of Thums Up, Minute Maid juice and Kinley water has moved its focus to launches in the 'healthier' space including no-sugar variants of Coke, Sprite and Thums Up, Vio dairy drink, Zico coconut water, Aquarius fortified water, Fuze iced tea, glucose and fruit juice drink Aquarius Glucocharge and Minute Maid Vitingo for micronutrient deficiency and malnutrition, besides hyperlocal variants of juices and juice-based drinks.
Beverage company Coca-Cola was incorporated on September 5, 1919. The firm owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavoured waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
The company's non-alcoholic beverage brands include Minute Maid, Aquarius, Diet Coke/Coca-Cola Light, Georgia, Minute Maid Pulpy, Gold Peak, Coca-Cola Zero, Powerade, Dasani, FUZE TEA, Fanta, Del Valle, Simply, Glaceau Smartwater, Sprite, Schweppes, Glaceau Vitaminwater and Ice Dew.
The Atlanta-based firm competes with PepsiCo Inc, Nestle, Dr Pepper Snapple Group, Groupe Danone, Mondelez International, The Kraft Heinz Company, Suntory Beverage & Food Limited and Unilever.