Thomas Cook hits upper circuit
Shares of Thomas Cook India were locked on 20 per cent upper circuit Friday after reports that it has tied up with the Japanese travel services firm, JTB Corp to boost its travel business.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of Thomas Cook India were locked on 20 per cent upper circuit Friday after reports that it has tied up with the Japanese travel services firm, JTB Corp to boost its travel business.
At 2:35 pm, the stock was at Rs 91.20, up Rs 15.20 on volume of 12,73,092 shares against two-week average of 61,532 shares. The stock has been on an up-move gaining 22.66 per cent in a week. It has surged 61.70 per cent in the past one month.
Over 60 per cent of Thomas Cook India’s revenues come from forex business and it is trying to increase the slice of the travel pie. The alliance is for a range of travel activities including leisure outbound, corporate travel and inbound travel to India.
The Tokyo-based JTB Corp is one of the largest travel companies in the world, and the alliance will provide it with a platform for an India entry.
The travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China South East Asia, Australia, New Zealand, Europe and America.
The company’s rights issue is delayed due to change in the holding parent of principal shareholder Dubai Holding. It is now expected to take place next year. The issue is to part finance Thomas Cook India’s acquisition of forex company LKP Finance.
At 2:35 pm, the stock was at Rs 91.20, up Rs 15.20 on volume of 12,73,092 shares against two-week average of 61,532 shares. The stock has been on an up-move gaining 22.66 per cent in a week. It has surged 61.70 per cent in the past one month.
Over 60 per cent of Thomas Cook India’s revenues come from forex business and it is trying to increase the slice of the travel pie. The alliance is for a range of travel activities including leisure outbound, corporate travel and inbound travel to India.
The Tokyo-based JTB Corp is one of the largest travel companies in the world, and the alliance will provide it with a platform for an India entry.
The travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China South East Asia, Australia, New Zealand, Europe and America.
The company’s rights issue is delayed due to change in the holding parent of principal shareholder Dubai Holding. It is now expected to take place next year. The issue is to part finance Thomas Cook India’s acquisition of forex company LKP Finance.
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