Madhavan Menon also says that Ikya has worked out as an excellent acquisition. He expects Ikya to contribute more to company's profits and continue growing, led by policy changes.
Travel services firm Thomas Cook has unveiled aggressive growth plans for all its divisions going forward. MD Madhavan Menon spoke to CNBC-TV18 to share the details of the company's plans.
According to Menon, the first half of the year saw a very good growth for the company, though international holidays weren't as good. Going head, he expects growth momentum to continue in the second half of the year as well.
Menon also says that Ikya has worked out as an excellent acquisition. He expects Ikya to contribute more to company's profits and continue growing, led by policy changes.
The company, last year, acquired 74 percent stake in Ikya Human Capital Solutions in a deal valued at Rs 256 crore.
Thomas Cook expects to complete Sterling Holiday acquisition by year-end.
IIFL is bullish on the stock and maintains a 'buy' rating with a target price of Rs 150 until September 2015.
Transcript to follow shortly
Thomas Cook stock price
On August 28, 2014, at 11:09 hrs Thomas Cook (India) was quoting at Rs 150.65, up Rs 0.75, or 0.50 percent. The 52-week high of the share was Rs 160.80 and the 52-week low was Rs 52.05.
The company's trailing 12-month (TTM) EPS was at Rs 1.60 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 94.16. The latest book value of the company is Rs 24.04 per share. At current value, the price-to-book value of the company is 6.27.
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