Thomas Cook (India) shares hit upper circuit on share buyback buzz

Shares of Thomas Cook (India) were locked in the upper circuit on Thursday ahead of a meeting to consider and approve the proposal for buyback of equity shares of the company. The stock opened on a positive note at Rs 44 and gained momentum to hit its upper circuit at Rs 49.30, up 19.95 percent over the previous close.

On the NSE, the stock zoomed 20 percent (its upper price band) to Rs 49.50. Earlier in the day, the company informed the exchanges that "a meeting of the board of directors is scheduled to be held on Wednesday, 26th February 2020... to inter alia, consider and approve the proposal for buyback of equity shares of the company," Thomas Cook (India) said in a BSE filing.