Cox & Kings shares gain; Motilal starts with 'buy'

Reuters Market Eye - Cox & Kings shares gain as much as 7 percent to 277.50 rupees.

Domestic brokerage Motilal Oswal starts with a "buy" rating and a target of 360 rupees and says Cox has 30 percent share in the outbound travel market with 20-22 percent gross margins, which is "best in the industry."

Expectations for good growth in Cox's education segment, reduction in debt from sale of camping business and valuations are other factors for its rating, the brokerage adds.

(Reporting by Abhishek Vishnoi)