Thomas Cook surges on expansion in South India

Thomas Cook (India) rose 4.21% to Rs 84.20 at 11:21 IST on BSE after the company said it has expanded its footprint in South India with the launch of its new branch outlet in Puducherry today, 4 December 2013.

The announcement was made during trading hours today, 4 December 2013.

Meanwhile, the S&P BSE Sensex was down 23.15 points or 0.11% at 20,831.77.

On BSE, 60,000 shares were traded in the counter as against average daily volume of 53,000 shares in the past two weeks.

The stock hit a high of Rs 84.90 and a low of Rs 80.30 so far during the day.

Commenting on the inauguration of the branch, Mr. Madhavan Menon, MD, Thomas Cook (India) said, "The launch of this new branch, is part of Thomas Cook's strategic intent to expand our footprint in South India - Which offers strong potential to grow. Our focus has always been to be easily accessible by all our customers and focused network expansion plays a critical role in achieving this. As India's largest integrated travel services company, we offer a variety of services to customers across segments - inbound tourists, families, honeymooners, special interest groups, young adults, NRIs, students, business professionals and more - and this new branch is just another step in our constant efforts to serve our valuable customers in Puducherry better".

Thomas Cook (India)'s consolidated net profit surged 51% to Rs 15.19 crore on 319.6% growth in net sales to Rs 431.39 crore in Q3 September 2013 over Q3 September 2012.

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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