Thomas Cook (India) gained 3.22% to Rs 243.50 at 12:00 IST on BSE, with the stock extending gains triggered by the company's completion of the acquisition of a significant part of Kuoni's global DMS network.
The announcement of acquisition was made during market hours yesterday, 29 June 2017. The stock had gained 3.4% to Rs 235.90 yesterday, 29 June 2017.Meanwhile, the S&P BSE Sensex was down 25.73 points or 0.08% at 30,831.79. The S&P BSE Mid-Cap index was up 18.27 points or 0.13% at 14,570.76.
On the BSE, 32,045 shares were traded on the counter so far as against the average daily volumes of 46,401 shares in the past one quarter. The stock had hit a high of Rs 244 in intraday trade, which is a 52-week high for the stock. The stock had hit a low of Rs 231.80 so far during the day. The stock had hit a 52-week low of Rs 165.60 on 19 May 2016.
The stock has gained 9.07% in three sessions to its ruling price from a close of Rs 223.25 on 27 June 2017.
The stock had outperformed the market over the past one month till 29 June 2017, gaining 15.02% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 6.09% as against Sensex's 4.49% gains. The scrip had, however, underperformed the market in past one year, gaining 9.7% as against Sensex's 15.4% gains.
The mid-cap company has equity capital of Rs 36.68 crore. Face value per share is Rs 1.
Thomas Cook (India) announced the completion of the acquisition of a significant part of Kuoni's global DMS network.
As a part of this acquisition, the Thomas Cook India Group will now include leading Destination Management Specialists (DMS) like Asian Trails (APAC), Desert Adventures (MENA), ATM-Australian Tours Management (Australia), Allied T Pro (North America), Private Safaris (Eastern Africa) and Private Safaris (Southern Africa) under its network creating a seamless delivery capability for the group and its B2B and B2C customers across 21 countries and 4 continents.
With this move, The Thomas Cook India Group's travel business network has now expanded significantly - the addition of 17 new countries, increasing its footprint to now cover 21 countries.
The Group, which prior to this acquisition, comprised Thomas Cook (India), SOTC Travel, TCI-SITA and Kuoni Hong Kong had a network spanning 4 countries - India, Sri Lanka, Mauritius and Hong Kong.
Post the acquisition, The Thomas Cook India Group, has been transformed into one of the largest travel service provider networks headquartered in the Asia-Pacific region.
Acquisition of Kuoni's global network of Destination Management Specialists (DMS) from Kuoni Travel Investments, Zurich, Switzerland andIor its affiliates was made by Travel Corporation (India) and SOTC Travel, wholly owned subsidiaries of the company.
This acquisition will help the company to enhance and integrate end to end service delivery capabilities and target strategic benefits across inbound, outbound, meetings, incentives, conferences, and events (MICE) and corporate travel businesses - helping deliver superior products, service and value to stakeholders.
On a consolidated basis, Thomas Cook reported net loss of Rs 6.29 crore in Q4 March 2017 compared with net loss of Rs 87.53 crore in Q4 March 2016. Net sales rose 10.4% to Rs 2059.21 crore in Q4 March 2017 over Q4 March 2016.
Thomas Cook (India) 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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