Cox & Kings rose 1.09% to Rs 249.75 at 10:41 IST on BSE after the company acquired 100% stake in Late Rooms (UK) from TUI Group for 8.5 million pounds.
Meanwhile, the BSE Sensex was down 60.08 points, or 0.22%, to 26,844.03
On BSE, so far 38,828 shares were traded in the counter, compared with an average volume of 42,956 shares in the past one quarter.
The stock hit a high of Rs 256 and a low of Rs 247.50 so far during the day. The stock hit a 52-week high of Rs 343.90 on 20 February 2015. The stock hit a 52-week low of Rs 200.25 on 21 September 2015.
The stock had outperformed the market over the past one month till 12 October 2015, rising 19.69% compared with 5.05% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.26% as against Sensex's 2.74% decline.
The mid-cap company has an equity capital of Rs 84.66 crore. Face value per share is Rs 5.
The Cox & Kings Group (Cox & Kings or the Group) acquired 100% of the issued and outstanding shares of Late Rooms (UK) (LateRooms) from TUI Group for 8.5 million pounds, Cox & Kings and Late Rooms said in a joint press release issued by Cox & Kings before Indian market hours today, 13 October 2015. LateRooms is a profitable, leading online hotel booking specialist in the UK. In the financial year ended 30 September 2015, LateRooms generated transaction volume of 300 million pound and net revenues of 50 million pounds, the two companies said in a press release. LateRooms operates a single web platform, which optimises the website for mobile device usage.
The acquisition fits the Cox & Kings' Group's strategic intent to expand global online and B2C (business to customers) leisure proposition, as per press release. The group also expects to drive synergies and value from LateRooms' association with the company's subsidiary, SuperBreak Mini-Holidays, a leading short break packaged holiday specialist in the UK, the press release said.
Cox & Kings' consolidated net profit rose 5% to Rs 134.52 crore on 7.5% decline in net sales to Rs 681.85 crore in Q1 June 2015 over Q1 June 2014.
Cox and Kings is a leading holidays and education travel group with operations in 22 countries across four continents. In India, Cox and Kings has a presence in 149 cities.
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