Buy Thomas Cook, says SP Tulsian

Buy Thomas Cook at this level, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "The pledge created by the parent company, Thomas Cook UK in favour of Royal Bank of Scotland led to confusion and resulted into the share hitting its 52 week low, close to Rs 32.50. But since then it has been seen that this could just be a trigger for the stake sale by the parent in the Indian arm."
He further added, "Talking about the Indian arm business, the integrated travel group company is also dealing in forex. They have a very robust business model; they have about 180 branches in 72 cities. Their balance sheet including their 100% subsidiary Travel Corporation of India, the real estates held by the company on a consolidated basis, the book value is about Rs 50 crore. The present market value of that is estimated to be at about Rs 400 crore."
"For nine months of the current year, they have posted topline of Rs 275 crore with EPS close to about Rs 2.40 paise. This means for calendar year