Stock Watch

MakeMyTrip, India's Gurgaon based online travel agent, has officially announced the acquisition of Ticketvala. com, the online bus tickets firm, which is owned and operated by Travis Internet Pvt. Ltd.

Under the deal, MMT has taken over strategic assets from Ticketvala, which include the website, URL, the technology platform agent network, in addition to the bus inventory.

Cox & Kings India, a tour and travel company with operations in India and UK, has managed decent run during debut on the stocks exchange. The company's shares increased by 30 per cent to close at Rs. 426.05, on the Bombay Stock Exchange as compared to IPO price of Rs. 330.

The performance was good at NSE as well, where the stock closed at Rs. 430 after registering decent volume.

Cox and Kings (India) Limited, one of the India's oldest tour operators, has been assigned an IPO Grading of 4 to its proposed IPO by Rating agency CARE.

The latest grade indicates above average fundamentals. It should be noted that CARE assigns IPO grades on scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Travelocity Global, leading US based online travel firm has announced that it has acquired India-based online hotel distribution network Travelguru.

According to sources, the company did not reveal financial details of the deal.

The sources further informed that the acquisition, which will extend Travelocity's online travel business in India, will help the firm access more than 4,000 hotels in India.

Indian Railways moved one more step ahead to use technology products in the country's largest transport system by announcing introduction of 6,344 Automatic Ticket Vending Machines (ATVMs) at stations across the country in a bid to reduce ticketing pressure on ticket counters.

Today, Mahindra & Mahindra Group's leisure and hospitality company, Mahindra Holidays & Resorts India Ltd. (MHRIL), announced that they will append modern properties and will elaborate some of its existing resorts with the payoff evoked through their Initial Public Offering (IPO). The IPO will be launched on Tuesday.

Mahindra Group's hospitality arm, Mahindra Holidays and Resorts Ltd. has announced to float its initial public offering (IPO) on June 23, offering 9.27 million shares of Rs.
10 each via full book building route. The offer, constituting 11 percent of post-issue paid-up capital of the company, will close on June 26 as per its regulatory statement.

Private carrier Jet Airways has made announcement that it has tied a knot with Kerala Tourism in order to provide travel packages to customers visiting the south Indian state amid ongoing holiday season.

The private carrier said that under the initiative, Jet2Kerala packages would be offered to travellers catering various price points. The announcement was made during an event in Mumbai on Wednesday.

(MHRIL), promoted by the Mahindra Group has informed that it will double its inventory through a judicious combination of acquisitions, construction of new properties and expansion of existing properties.