This S&P BSE Smallcap stock rose 5% on Friday within the first hour of markets opening after it announced a a new product launch in partnership with National Payments Corporation of India (NPCI) with volumes that were 1.75x yesterday’s as well as weekly average volumes.
The stock rose 6.2% above its 20 day moving average and 60% above its 200 day moving average at Rs. 120.00. It is currently 0.7% away from its 52 week high. The company has a market cap of Rs. 5,633 crore.
Thomas Cook (India) Ltd said in a filing dated 7th September 2023, that it has partnered with National Payments Corporation of India (NPCI) to launch a pioneering RuPay Forex Card Pilot with UAE, followed by a global, phased roll-out. The product uses the Indian NPCI global card payment network. For Indians traveling abroad, this innovative initiative provides international payment options in line with the nation’s Made in India focus.
Given the destination’s growth potential, the Thomas Cook and RuPay forex card partnership launches with the UAE as its pilot, with a phased global rollout planned. In phase one, Thomas Cook’s RuPay card will have AED (UAE Dirhams) loaded onto it, providing extensive usage across the UAE for purchases and ATM withdrawals.
Key Benefits of the Thomas Cook RuPay Card include Thomas Cook travel vouchers worth INR 13,900, Lounge access at International Airports in India*, Free ATM Withdrawal (in UAE)*, Free replacement on loss of Card, Complimentary insurance cover up to INR 7,50,000, 50% off on unique photographic experiences at Dubai’s top attractions, by Digiphoto Entertainment Imaging (DEI), KrisFlyer miles on every forex purchase.
Thomas Cook (India) Limited. (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services. It operates as a leading B2C and B2B services provider with close to a dozen brands. The Group spans 28 countries across 5 continents.
Written by Sandeep R
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.
