The stock erased most of its gains and ended flat at Rs 452. The counter clocked volumes of 1.47 million shares as compared to the two-week daily average traded volumes of 756,608 shares on the BSE.
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(Updated at 1004hrs)
Cox & Kings has gained in opening trades as the Australian arm of the company acquired two firms.
The stock opened at Rs 460 and surged further to a high of Rs 462 - up 2%. It is now trading with a 1.5% gain at Rs 459. Around 84,160 shares have been traded on the BSE so far.
Cox & Kings (Australia) has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).
