GlaxoSmithkline Pharma, along with GSK Consumer are the top gainers on the BSE currently. The stock is up by a huge 19% at Rs.2928 and this is after having hit a new 52-week high today at Rs.2952. Volumes are up 5 times.

The stock zoomed up after its parent company, London based GlaxoSmithKline plc announced its plan to hike stake in the company from the present 50.7% to 75%. To hike this stake, it has made an open offer at Rs.3100/share.

Apart from offering a huge premium on the market price, the open offer puts to rest, once and for all, any rumours of delisting. The company’s increased commitment is good news, especially when majority are opting for delisting.