Cox & Kings gains as unit gets NBFC license

Cox & Kings rose 1.27% to Rs 210 at 14:51 IST on BSE after the company said that RBI has granted NBFC licence to Cox & Kings Financial Service.

The announcement was made during market hours today, 25 May 2018.

Meanwhile, the S&P BSE Sensex was up 233.58 points, or 0.67% to 34,896.69.

On the BSE, 2.04 lakh shares were traded in the counter so far compared with average daily volumes of 4,542 shares in the past two weeks. The stock had hit a high of Rs 236.95 and a low of Rs 207.45 so far during the day. The stock hit a 52-week high of Rs 305.50 on 27 July 2017. The stock hit a 52-week low of Rs 203.55 on 17 May 2018.

The mid-cap company has equity capital of Rs 88.28 crore. Face value per share is Rs 5.

Cox & Kings said that Reserve Bank of India (RBI) has granted a Non-Banking Finance Company (NBFC) licence to Cox & Kings Financial Service, a wholly owned subsidiary of the company. Cox & Kings Financial Service proposes to carry on the business of holiday financing, student loan financing and other non-banking financial service activities and a foreign exchange business.

Cox & Kings after consolidated net profit jumped 431.47% to Rs 85.46 crore on 1.51% fall in total income to Rs 1370.91 crore in Q3 December 2017 over Q3 December 2016.

Cox & Kings is a travel company. It operates in three key verticals; leisure, education and hybrid hotels.

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