Wednesday, November 18, 2009

COX & KINGS IPO - INVEST




Cox & Kings India Limited has come out with a Public Issue of 18.496.649 Equity Shares with a price band of 316-330. The issue opens on 18 Nov and closes on 20 Nov.
Cox & Kings is the longest established travel company in the world. Its distinguished history began in 1758. Cox & Kings is a premium brand in all travel related services in the Indian subcontinent, employing over 800 trained professionals.


Post Issue, the Promoters holding will be around 63.6%.

CARE has graded the IPO at "Grade 4". This Grade indicates 'above average' fundamentals.

BROKERAGES VIEW :
Angel Broking has recommended "Subscribe" saying "On the back of positives like C&K’s superior growth rates, its wide geographical reach, a strong brand franchise and the improving industry dynamics, we recommend a Subscribe view on the IPO"

RR Financial Consultants says "The long term investors can invest in the IPO."

Hem Securities says : "The Company has shown decent growth in its topline and bottomline as well. We recommend "Subscribe" to the issue".

Bonanza Portfolio says "apply at Upper Band at Rs.330 share".

Sharekhan says "Reasonable pricing and strong financials are positives. We recommend Invest"

Swastika Intelligence Group recommends Investing in the IPO for good listing gains to investors and also for medium-term and long-term Investment.

KR Choksey has recommended "Subscribe".

SP Tulsian has said :"After a long time, we have come across a comforting IPO, which looks capable to give listing gain as well as much more, if held on with 12 months view. Issue is recommended even at the upper band of Rs 330 per share."



Businessline too has recommended its readers to "INVEST" in the IPO., due to the company’s strong brand image, wide geographical reach, synergies of operations and the economies of scale it enjoys.



MY VIEW :
Comparing Cox & Kings with Thomas Cook, which is quoting at a PE of around 50, the issue is definitely priced cheap. The pricing does offer scope for appreciation. Long Term Investors should have no hestitation in subscribing to the issue. SUBSCRIBE.


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Disclaimer: This report represents the personal views of the Author and is not a solicitation/invitation to any one to buy/sell the stock. The information has been obtained from the Public domain and various sources, which are believed to be reliable. You are advised to verify yourself before taking any investment decision. In spite of this, the author does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. He shall not accept any liability whatsoever arising from any decision taken on the basis of the above report. The author or his family may have a position in the stock at the time of writing and could be interested in the stock going up.

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