Thomas Cook India hit 5% upper circuit at Rs 92.90 on BSE after Thomas Cook UK made an open offer to acquire about 20.4% of the Indian firm's share capital at Rs 107 each.
The company made this announcement during markets hours today, 10 March 2008.
On BSE, 39,829 shares were traded in the counter. The scrip had an average daily volume of 1.85 lakh shares in the past one quarter.
The stock hit a high of Rs 92.90 and a low of Rs 92.70 so far during the day. The stock had a 52-week high of Rs 143.95 on 20 December 2007 and a 52-week low of Rs 48.70 on 14 March 2007.
The small-cap scrip had outperformed the market over the past one month till 7 March 2008, rising 18.16% compared to the Sensex’s fall of 8.85%. It had also outperformed the market in the past one quarter, rising 19.03% compared to Sensex’s decline of 19.99%.
The company’s current equity is Rs 16.08 crore. Face value per share is Rs 1.
The current price of Rs 92.90 discounts Q3 September 2007 annualized EPS of Rs 1.7, by a PE multiple of 54.67.
Earlier on Friday, 7 March 2008, Thomas Cook UK said it would acquire majority stake in Thomas Cook (India) (TCIL) and would also repurchase its Egypt business and brand licences in 15 Middle East countries from Dubai Financial Group (DFG) for a total consideration of up to 249 million euros (over Rs 1,555 crore).
Thomas Cook (India) reported net profit of Rs 6.82 crore on sales of Rs 52.74 crore in the quarter ended September 2007. The result for the quarter ended September 2007 is not comparable with the previous periods due to the amalgamation of LKP Forex with the company, consolidation of results of Travel Corporation (India), which was acquired on 28 December 2006 and exclusion of results of Hindustan Cargo, which was sold on 30 December 2006.
Thomas Cook (India) offers a broad spectrum of travel-related services that include foreign exchange, corporate travel, leisure travel, and travel insurance.
No comments:
Post a Comment