Thomas Cook rises over 10.5%

Thomas Cook stock price rose over 10.5% today to Rs.265.85, which is not too far away from its 52-week high of Rs.274.15. Trading volume was up over 32 times the 20-day moving average.

The stock price is reacting positively to the news of its Board planning to go ahead with exploring the possibility of an internal corporate restructuring plan, which will bring its focus back to travel related business.

The company stated that it is looking at the option of giving shareholders direct exposure and shareholding in the business of Quess Corp and enhance the stakeholders’ value.

The company said that it has made currently made no decision in respect of the Proposed Restructuring as there is a need to examine the specifics of the proposal. After the completion of the exploratory exercise, the details of the proposal in relation to the Proposed Restructuring is be examined and approved by the Board of Directors.