Stocks

Thomas Cook shares hit upper circuit on buyback buzz

PTI | Updated on February 20, 2020 Published on February 20, 2020

Thomas Cook, the world's oldest travel firm, collapsed in late September succumbing to heavy debt. File Photo   -  Reuters

Shares of Thomas Cook (India) were locked in the upper circuit on Thursday ahead of a meeting to consider and approve proposal for buyback of equity shares of the company.

The stock opened on a positive note at ₹44 and gained momentum to hit its upper circuit at ₹49.30, up 19.95 per cent over previous close.

On the NSE, the stock zoomed 20 per cent (its upper price band) to ₹49.50.

Earlier in the day, the company informed the exchanges that “a meeting of the board of directors is scheduled to be held on Wednesday, 26th February, 2020..., to consider and approve proposal for buyback of equity shares of the company,” Thomas Cook (India) said in a BSE filing.

Published on February 20, 2020
This article is closed for comments.
Please Email the Editor