GlaxoSmithkline Consumer Healthcare announced on Tuesday that GSK Plc and Novartis AG have entered into an agreement to create consumer healthcare joint venture to hold GSK's Consumer Healthcare business and Novartis OTC Consumer Healthcare business.

This consumer healthcare joint venture will exclude GlaxoSmithKline Consumer Healthcare India, where GSK plc will continue to hold directly its interests in the listed entity.

Shares of the company gained Rs 2.6, or 0.06%, to settled at Rs 4,368. The total volume of shares traded was 453 at the BSE (Tuesday).