Thomas Cook gains after receiving CCI approval for acquisition of Indian unit of Kuoni Group

Thomas Cook (India) gained 1.2% to Rs 201.95 at 11:45 IST on BSE after the company said it has received approval of the Competition Commission of India for its acquisition of Kuoni Travel (India).

The company made announcement after market hours yesterday, 15 December 2015.

Meanwhile, the S&P BSE Sensex was up 183.56 points or 0.72% at 25,504.

On BSE, so far 9,211 shares were traded in the counter as against average daily volume of 53,912 shares in the past one quarter.

The stock hit a high of Rs 205.60 and a low of Rs 201 so far during the day. The stock had hit a record high of Rs 256.90 on 1 June 2015. The stock had hit a 52-week low of Rs 150.20 on 23 December 2014.

The stock had underperformed the market over the past one month till 15 December 2015, dropping 4.57% compared with Sensex's 1.13% fall. The scrip had, however, outperformed the market in past one quarter, sliding 0.5% as against Sensex's 1.5% fall.

The mid-cap company has equity capital of Rs 27.28 crore. Face value per share is Rs 1.

It may be recalled that Thomas Cook (India) had in August 2015, signed a definitive agreement with Kuoni Group to acquire Kuoni's travel businesses across India and Hong Kong for Rs 535 crore. As part of the acquisition, the company will take all of the approximately 1,800 employees of Kuoni's business units in India and Hong Kong tour operating and will continue to run the business activities as an independent company. The company had formally concluded on 9 November 2015, the acquisition of 100% shareholding of Kuoni Travel (China), Hong Kong from the Kuoni Group.

Thomas Cook (India)'s net profit fell 40.6% to Rs 6.74 crore on 9.2% decline in sales to Rs 99.06 crore in Q2 September 2015 over Q2 September 2014.

Thomas Cook is an integrated travel and travel related financial services company in the country offering a broad spectrum of services that include foreign exchange, corporate travel, mice, leisure travel, insurance, visa & passport services and e-business.

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