Thomas Cook India's shares are buzzing. Know why

Thomas Cook India Ltd., the nation's premier provider of tourism related tours, figured in the volume buzzers list after the company said it acquired a rival to expand services locally and in Hong Kong.

Thomas Cook said it had purchased Kuoni Travels' operations in India and Hong Kong for 535 crore rupees as a part of its drive to increase its presence in the holidays business. The company would be adding 1,800 staff to its rolls, it said in a statement to the exchanges.

Thomas Cook rose 5.45 rupees, or 2.6 percent, to 225.70 rupees on the National Stock Exchange, where 2.68 lakh shares were traded by 11 AM compared with the 5-day average of 1.09 lakh shares

Thomas Cook has seen its market capitalisation rise 70 percent to 6,000 crore rupees as investors bought into the booming business of providing leisure travel services in and outside of India.

Image credit: Indiatimes