Business OpportunitiesCox & Kings pares gains, ends flat
The stock erased most of its gains and ended flat at Rs 452. The counter clocked volumes of 1.47 million shares as compared to the two-week daily average traded volumes of 756,608 shares on the BSE.
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Cox & Kings has gained in opening trades as the Australian arm of the company acquired two firms.
The stock opened at Rs 460 and surged further to a high of Rs 462 - up 2%. It is now trading with a 1.5% gain at Rs 459. Around 84,160 shares have been traded on the BSE so far.
Cox & Kings (Australia) has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).