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Even though it was made official after the trading hours, market got the wind of positive development in LKP Merchant Financing.

The company finally reached an agreement on Friday for the merger of its whollyowned subsidiary, LKP Forex Ltd, with Thomas Cook for a substantial compensation package in an all-share deal.

The stock hit the five per cent upper circuit on the BSE and the counter finished at Rs 104.10. Interestingly, the stock has declined by over 4 per cent in the last one week and 32 per cent in the last one month.

According to market sources, positive developments are also in the making for LKP Merchant Financing in terms of debt reduction and performance too.

Jayanta Mallick

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