Thomas Cook (India) rose 1.41% to Rs 75.55 at 14:50 IST on BSE after the company said it has partnered with Y-Axis, a premier immigration and visa consultant in the country.
The announcement was made during trading hours today, 4 March 2014.
Meanwhile, the S&P BSE Sensex was up 252.62 points or 1.21% at 21,199.27.
On BSE, so far 9,131 shares were traded in the counter as against average daily volume of 88,472 shares in the past one quarter.
The stock hit a high of Rs 77 and a low of Rs 74.25 so far during the day. The stock had hit a 52-week high of Rs 92 on 10 February 2014. The stock had hit a 52-week low of Rs 47.55 on 8 March 2013.
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The stock had underperformed the market over the past one month till 3 March 2014, sliding 5.16% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, declining 7.8% as against Sensex's 0.44% rise.
The small-cap company has equity capital of Rs 24.77 crore. Face value per share is Re 1.
Thomas Cook (India) said that the association with Y-Axis will offer the convenience of a holistic and seamless product-service experience to Indians travelling overseas for permanent residency, on work permits or education. Internal research at Thomas Cook (India) has highlighted a significant potential growth in Indians travelling abroad on work permit, permanent residency and studies, especially to Australia, Canada & Denmark, and this strongly viable market is one that Thomas Cook (India) & Y-Axis intend to jointly target, Thomas Cook said in a statement.
Commenting on the association, Mr. Mahesh Iyer, COO & Head - Foreign Exchange, Thomas Cook (India) said, "Thomas Cook India's pioneering expertise in providing world class travel & foreign exchange solutions and the legacy of Y-Axis in the immigration and visa consultancy segment will ensure a truly comprehensive product offering for consumers. The focus of both our organizations on excellence in product and service delivery forms a crucial element of this alliance and we look forward to jointly leveraging the opportunity in this growing market of immigration, long term work and education".
Commenting on the association, Mr. Xavier Augustin, Founder & CEO, Y-Axis Solutions said, "Our endeavor at Y-Axis is not only to ensure good counseling by looking into the needs of our clients but also provide an array of immigration services. Encompassing all possible requirements from assistance in evaluating the right destination, thorough visa documentation to meeting submission timelines through our concierge services. Now with Thomas Cook India, market leaders in travel and travel services, as our partners, we will be able to offer value added services, mainly, Foreign Exchange. This will help us provide a more comprehensive solution to our clients who are aspiring to relocate overseas".
Thomas Cook (India)'s consolidated net profit surged 53.3% to Rs 13.14 crore on 384.9% growth in net sales to Rs 462.67 crore in Q4 December 2013 over Q4 December 2012.
Thomas Cook 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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