November 23, 2017 / 5:41 AM / in a year

BUZZ-Thomas Cook (India) jumps; to sell 5.4 pct stake in Quess Corp

** Shares of Thomas Cook (India) Ltd rise as much as 6.4 pct to 244.5 rupees, their biggest intraday pct gain since Aug. 31

** Co gets board's approval to raise 6 bln rupees ($92.53 million) by selling 5.42 pct stake in its business services unit, Quess Corp Ltd , through an Offer for Sale [bit.ly/2hKb8jT ]

** Divestment would reduce co’s stake in Quess Corp to 51.56 pct

** Dilution of stake would help reduce Thomas Cook India’s long-term debt, Madhavan Menon, chairman & managing director, of Thomas Cook (India) said in a statement

** Quess Corp fell as much as 8.3 pct in early trade, its biggest intraday pct loss in over a year ($1 = 64.8450 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below