See 50% upside in Thomas Cook, says Rajen Shah

See 50% upside in Thomas Cook, says Rajen Shah, CIO, Angel Broking.

Shah told CNBC-TV18, "Thomas Cook is a 130 years old company and has presence in about 75 cities, almost about 200 branches and almost about 153 are owned that is what the press release of Thomas Cook mentioned yesterday. If you work out the real estate value that would be somewhere around Rs 400-450 crore and the market cap is about Rs 1,150 crore or so."
He further added, "But the interesting thing we just did a small comparison and arrived at a fair value for Thomas Cook. If you see Cox & King this year it will report about Rs 650 crore of revenue and the market cap is about Rs 2,600 crore, so it