Thomas Cook (India) rose 2.3% to Rs 77.75 at 12:30 IST on BSE after the firm said it has partnered with meet & greet service provider 'marhaba' to ensure a swift, smooth and safe passage for Indian travelers at Dubai, Abu Dhabi and Bahrain airports.
The announcement was made during trading hours today, 6 March 2014.
Meanwhile, the S&P BSE Sensex was up 103.66 points or 0.49% at 21,380.52.
On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 86,853 shares in the past one quarter.
The stock hit a high of Rs 78.25 and a low of Rs 76.10 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 5 March 2014, sliding 11.63% compared with the Sensex's 5.01% rise. The scrip had also underperformed the market in past one quarter, declining 6.06% as against Sensex's 1.52% rise.
The small-cap company has equity capital of Rs 24.77 crore. Face value per share is Re 1.
In collaboration with marhaba, part of dnata, one of the world's largest international air services providers, Thomas Cook India's 'marhaba' services include swift visa on arrival approvals, meet-and-greet services on arrival and departure, assistance and guidance through airport clearance, baggage assistance and handover at the pick-up point, to ensure its customers arrive relaxed with the assurance that they are in safe hands, Thomas Cook said in a statement.
With significant growth in non immigrant travelers to the UAE (66.3 million as of Jan 2014 and slated to grow at 9.5%: Reuters), this is a large market, Thomas Cook said. Through its marhaba services, Thomas Cook India will offer its large and diverse consumers - across families, individual holiday makers, honeymooners, ad hoc groups, corporate and MICE customers- another reason to Travel Smooth, the company said in a statement.
Madhavan Menon, MD, Thomas Cook (India) said, "At Thomas Cook India, consumer delight has always been at the heart of all our initiatives and given Marhaba's sterling reputation of service excellence, our partnership seemed a natural progression. We see strong synergies in our relationship and look forward to together ensuring that our customers travel smooth".
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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