Cox and Kings is trading higher by 2.7% at Rs 102, extending its Thursday’s nearly 8% rally, after reporting a 79% year-on-year (yoy) jump in consolidated net profit at Rs 264 crore for the quarter ended September 30, 2013 (Q2), on back of strong performance recorded by education and camping division. The company engaged in travel support services had a profit of Rs 148 crore in a year ago quarter.
The stock opened at Rs 102 and touched high of Rs 104 on BSE. A combined 1.54 million shares have changed hands on the counter so far on BSE and NSE.
“Cox’s leadership position and consolidation of market share towards organized players has helped the company maintain healthy growth trends in India biz, despite currency headwinds and weak macro. International biz is also registering strong operating trends and yielding robust cash flows,” analyst at JP Morgan said in a note.
With Meininger acquisition now concluded and limited capex commitments, free cash generation should increase, added analyst.
Meanwhile, a global research firm put an overweight rating on the stock with a target price of Rs 145.
The stock opened at Rs 102 and touched high of Rs 104 on BSE. A combined 1.54 million shares have changed hands on the counter so far on BSE and NSE.
“Cox’s leadership position and consolidation of market share towards organized players has helped the company maintain healthy growth trends in India biz, despite currency headwinds and weak macro. International biz is also registering strong operating trends and yielding robust cash flows,” analyst at JP Morgan said in a note.
With Meininger acquisition now concluded and limited capex commitments, free cash generation should increase, added analyst.
Meanwhile, a global research firm put an overweight rating on the stock with a target price of Rs 145.
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