Thomas Cook shares rally 11% as arm opens resort in Tamil Nadu

Shares of Thomas Cook spurred 11 per cent in Monday's trade after a wholly-owned subsidiary Sterling Holiday Resorts launched its property, Sterling Arunai Anantha Tiruvannamalai, in Tamil Nadu.

The stock surged 11 per cent to hit of  high of Rs 87.10 on BSE. It was close to its 52-week high of Rs 91.35 hit in March this calendar, after rallying 61 per cent from its June low of Rs 54.

A total of 3.43 lakh shares changed hands on the counter by 3 pm against a two-week average of 42,000 shares on BSE.

The 3.5-acre resort features 30 well-appointed rooms. With customised menus and expert in-house event planners, the resort lawns are the ideal venue for weddings, private and corporate events, the company said in a BSE filing.

Managing Director and CEO at Sterling Holiday Vikram Lalvani said this was Sterling's eighth resort in Tamilnadu. Being less than 200 kms from Chennai and Bangalore, it can be an ideal destination for weddings and corporate events, he said.

Managing Director of Gemspark Hotels and the owner of the property S Ravindren said: “We are delighted to become part of the Sterling bouquet of resorts. Our resort has always attracted guests from Bangalore, Chennai and Andhra Pradesh, as well as foreigners who travel here to visit the ashrams or practice yoga. With Sterling’s pan-India reach and distribution strength, we are sure to see guests from the rest of the country coming here to enjoy the resort and the destination,” he said.

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