Shares of Thomas Cook climbs over 2% to Rs 148 on the BSE after Sterling Holiday Resorts India Ltd became a subsidiary of Thomas Cook India Group in the back of the former's equity shares being bought in an off-market transaction by Thomas Cook Insurance Services (TCISIL).
According to the company's announcement, on September 3 and September 5 Thomas Cook Insurance Services purchased 11,863,334 paid-up equity shares of Sterling Holiday Resorts at Rs 98 a share in an off-market transaction. Following the transaction TCISIL now holds 53.48%.
TCISIL, is a wholly owned subsidiary of Thomas Cook (India) Ltd. TCIL's another subsidiary Travel Corporation (India) Ltd owns around 1.67% in SHRIL. The Thomas Cook India group now holds around 55.14% in SHRIL.
The stock opened at Rs 147.70, touched a high of Rs 148 and a low of Rs 146 on the BSE. A total of 22,718 shares have been exchanged on the BSE so far.
