Thomas Cook shines bright

IFCI surged over 5% to Rs.25 levels, with Thomas Cook going on to hit a new 52-week high at Rs.255.95. Tourism Finance Corporation of India (TFCI) too hit a new high at Rs.129.

All three stocks are in the spotlight today on unconfirmed news that Thomas Cook could acquire IFCI’s 26.09% stake in TFCI; Thomas Cook is one of the many other contenders but rumour is that its chances are very high.

This stake sale in TFCI is IFCI’s plan to monetize its assets  and this 26.09% stake sale at todays rate will fetch it over Rs.250 crore.