Thomas Cook surges as parent gets lifeline from lenders

Thomas Cook (India) has surged 7% to Rs 66 on reports that Thomas Cook Group Plc, the parent company of travel support services firm announced a new financing deal with its lenders which should secure the struggling group's future.

“The 170-year-old travel group has agreed a 1.4 billion pounds ($2.26 billion) deal with lenders including Royal Bank of Scotland and Barclays, to extend the maturity of its bank loans to 2015,” the Reuters report suggests.

The stock opened at Rs 62.50 and touched high of Rs 66.10 on the Bombay Stock Exchange. A combined 507,142 shares have changed hands on the counter till noon deals on both the exchanges.