Thomas Cook gains nearly 6 pc on internal corporate rejig buzz

Shares of Thomas Cook India today defied the broader market trend and settled with gains of nearly six per cent after the company said it has received the Board's consent to explore an internal corporate restructuring exercise.
During the day, the shares surged as much as 10.51 per cent to touch an intra-day high of Rs 265.85 on BSE. At the end of today's closing session, the stock was trading at Rs 255.90, up 6.38 per cent on BSE.
Similar movement was seen on NSE, where the stock jumped 10.17 per cent to an intra-day high of Rs 265.90. The stock finally was quoted at Rs 254.45, higher by 5.43 per cent over its previous close.

The Board of Directors has given consent to the management to "explore the possibility of an internal corporate restructuring exercise that would enable the company to focus on travel related business, give the shareholders direct exposure and shareholding in the business of Quess Corp Ltd and enhance the stakeholders' value", the company said in a regulatory filing.
The company however said no decision in respect of the proposed restructuring has been taken and there is a need to examine the specifics of the proposal, it added.
Meanwhile, the broader market settled 300.16 points down at 33,746.78.