Smallcap stock jumps after it forms JV for AI solutions in the travel sector in India 

Published 01-10-2024, 02:31 pm
Updated 01-10-2024, 07:45 pm
© Reuters.  Smallcap stock jumps after it forms JV for AI solutions in the travel sector in India 
THOM
-

During Tuesday’s trading session, the shares of India’s leading omnichannel travel services company in India surged nearly 2 percent at Rs. 206.65 on BSE, after the company formed a joint venture (JV) with Atirath Technologies Pvt. Ltd. to build AI solutions for the Travel Sector in India.

With a market capitalisation of Rs. 9,664 crores, at 02:11 p.m., the shares of Thomas Cook (NS:THOM) (India) Limited were trading in the green at Rs. 205.45, up by 1.4 percent, as against its previous closing price of Rs. 202.65.

Is Thomas Cook in your watchlist? Do you want to know which stocks should be a part of your portfolio? Access our Advanced Screener feature here

What’s the News:

To expand its business, Thomas Cook (India) Limited (TCIL) entered into a Joint Venture Agreement (JV agreement) with Atirath Technologies Private Limited under the name Indian Horizon Marketing Services Limited.

As per the JV agreement, TCIL will hold 50 percent in the proposed Indian Horizon Marketing Services Limited (JV company), while Atirath will hold the remaining 50 percent. The authorised capital of the JV company is Rs. 3 crores.

According to the latest regulatory filings with the stock exchanges, the JV company will facilitate the development of a suite of proprietary intellectual property for the travel domain, utilising Artificial Intelligence (AI) in India.

Presently, Indian Horizon Marketing Services Limited is a wholly-owned subsidiary of TCIL, but following the execution of the JV agreement, it is set to become a 50:50 JV company and will carry out operations in India.

Expected benefits to the Group:

Thomas Cook India Group projects the ability to extend its reach and serve more customers, enhancing customer interactions through local language capabilities, and creating a seamless digital journey that facilitates direct online transactions.

Additionally, the Group expects a reduction in human dependence to scale operations, improved productivity and customer experience for sellers, and the development of a completely new distribution model.

Previous News:

On 26th September, Thomas Cook (India) Limited signed a 24-month strategic partnership with Malaysia Aviation Group (Malaysia Airlines) in Kuala Lumpur.

The Memorandum of Understanding (MoU) aims to cater to the growing interest among Indian consumers for multiple holidays each year by offering a seamless travel experience for the customers of Thomas Cook & SOTC Travel, and also to leverage Malaysia Airlines’ position as the gateway to Asia and beyond.

This partnership will leverage Malaysia Airlines’ extensive connectivity across India’s metro and regional markets, enhancing travel experiences for Indian tourists travelling to and via Malaysia to other countries, like Australia, New Zealand and Japan, among others.

Financials:

The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 11 percent, rising from Rs. 1,899 crores in Q1 FY24 to Rs. 2,106 crores in Q1 FY25.

During the same period, the company’s net profit rose marginally from Rs. 71 crores to Rs. 73 crores, representing a growth of 2.8 percent YoY.

Stock Performance

The stock has delivered positive returns of nearly 71.8 percent of returns in one year, as well as around 22.8 percent returns in the last six months. So far in 2024, the shares of TCIL have given positive returns of about 48.4 percent.

About the Company:

Thomas Cook (India) Limited is engaged in diversified businesses of travel and travel-related businesses including authorised foreign exchange dealers, imaging solutions and providing full-service related to leisure hospitality & resort business, one-time leisure holidays & meetings, incentives, conferences & exhibitions, working as travel agent and tour operator.

Written by Shivani Singh

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Smallcap stock jumps after it forms JV for AI solutions in the travel sector in India appeared first on Trade Brains.

Read More

To understand more about InvestingPro, watch this video: https://www.youtube.com/watch?v=_WfQcN5vjI

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.