Approving the multi-structured deal, the fair trade regulator CCI said the deal is not likely to have an adverse impact on competition in the country.
In a deal which fructified on the weekend, Thomas Cook agreed to buy Sterling Holiday Resorts for Rs 870 crore. It will be done in three tranches.
Market regulator Sebi has disposed of the case against Sterling Holiday Resorts on delay in dematerialising certain shares pledged with Gujarat Industrial Investment Corporation (GIIC) as the matter was settled amicably.
Aashish Tater, Head of Research of Fort Share Broking feels that Sterling Holiday Resorts can move to Rs 110. Given that the company, right now is on expansion stage, that's why looking at the bottomline would not be much of significance. The expansion is around 247 rooms to be starting from next Q3. The total chain is going to go to 1,629.
In the last fortnight, better-than-expected PMI numbers as well as improved auto sales on a month-on-month (m-o-m) basis in the US indicated that its economy continues to recover.
Buy Sterling Holiday Resorts, says Ashish Tater of Fort Share Broking
Sterling Holiday Resorts India Ltd today said it plans to raise Rs 120 crore through the issuance of equity shares and warrants on a preferential basis to fund expansion plans.