Thomas Cook India shares soar 20% as sale process begins
The stock jumped 19.91%to touch its upper circuit limit at Rs 53.90 on the BSE. At the NSE also, the scrip surged 19.93% to Rs 53.85
By PTI | Updated:
Shares of Thomas Cook India Ltd today soared by 20 per cent to their highest permissible limit for the day, as the UK-based parent Thomas Cook Group Plc began a process for the sale of its 77.1 per cent stake in the firm.
After a positive opening, the stock zoomed further after the company announced the beginning of a formal sale process for disposal of shares held by the British parent firm.
The stock jumped 19.91 per cent to touch its upper circuit limit at Rs 53.90 on the BSE. At the NSE also, the scrip surged 19.93 per cent to Rs 53.85.
In a filing to the BSE, Thomas Cook India Ltd ( TCIL) said numerous third parties are interested in buying the stake.
"Following a number of unsolicited informal expressions of interest, we have decided to seek formal offers for our stake in Thomas Cook India," the filing quoted Thomas Cook Chief Executive Sam Weihagen as saying.
After a positive opening, the stock zoomed further after the company announced the beginning of a formal sale process for disposal of shares held by the British parent firm.
The stock jumped 19.91 per cent to touch its upper circuit limit at Rs 53.90 on the BSE. At the NSE also, the scrip surged 19.93 per cent to Rs 53.85.
In a filing to the BSE, Thomas Cook India Ltd ( TCIL) said numerous third parties are interested in buying the stake.
"Following a number of unsolicited informal expressions of interest, we have decided to seek formal offers for our stake in Thomas Cook India," the filing quoted Thomas Cook Chief Executive Sam Weihagen as saying.
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