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      Thomas Cook rises after subsidiary subscribes stake in JV

      MoM Team / Mumbai, Jun 21, 2017 09:29 AM IST

        Thomas Cook rises after subsidiary subscribes stake in JV

        Thomas Cook (India) rose 1.2 percent to Rs 235 on BSE after the company said that its subsidiary successfully subscribed to 49 percent of equity share capital in joint venture company.

        The announcement was made after market hours yesterday, 20 June 2017.

        Meanwhile, the S&P BSE Sensex was down 48.69 points or 0.16 percent at 31,248.84. The S&P BSE Mid-Cap index was up 7.54 points or 0.05 percent at 14,852.83.

        On the BSE, 2,303 shares were traded on the counter so far as against the average daily volumes of 46,542 shares in the past one quarter. The stock had hit a high of Rs 237 and a low of Rs 234.65 so far during the day.

        Thomas Cook (India) said that Travel Corporation (India), wholly owned subsidiary of the company successfully subscribed to 49 percent of equity share capital of TCI-Go Vacation India Private Limited, a joint venture company with DER Touristik Group, Europe's leading trade and tourism group.

        On 3 May 2017, Travel Corporation (India) intimated that they have entered into joint venture agreement with DER Touristik Group to form a joint venture company 'TCI Go Vacation India Private Limited' to be operational from Delhi NCR.

        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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      Source: Capital Market


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