Outbound travel agency, Thomas Cook India galloped 15.21 per cent to close at Rs 98.85 after its board approved raising up to Rs 200 crore through a rights issue. The terms of the proposed issue would be decided at a later date.
The proceeds would be used for redeeming preference shares of Rs 105 crore and repaying the existing debt. The stock opened 1.3 per cent higher at Rs 86.90 and made an intraday high/low of Rs 102.95/Rs 84.15. The total quantity traded was 20,72,734 shares, which is more than 5 times the two-week average.
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