Delisting may happen in Thomas Cook: Irani

Delisting may happen in Thomas Cook very soon, says Mehraboon Irani, Principal and Head- Pvt Client Group Business, Nirmal Bang Securities.

Irani told CNBC-TV18, “We have been negative as far as PSU banks go and especially on SBI for quite sometime and to admit and to accept rather I would say that the numbers were much, much better than our estimates or anybody’s estimates. The profitability was strong, the revenues were quite good.”
He further added, “The management has stopped a large part of the walk I would say. The fact is according to me the asset quality deterioration while it has been managed quite well so far, according to me that could possibly come to the fore all over again and if that comes to the fore possibly a retest to the low of maybe around Rs 1,700 is definitely not ruled out.”
“The way Thomas Cook have offered the price to the promoter, they did do offer a higher price to the shareholders I think is definitely welcome news. I think this was very much on the cards and looking at the way the company has performed over the last three years despite the fact that it is a great brand name, I think it was sad to say the least. I think at the present valuation it’s definitely welcome news for the shareholders and honestly if you ask me I feel that a delisting is very much on the cards.”