Thomas Cook India dips 9.6

Shares of travel services major Thomas Cook India Ltd on Tuesday plunged by about 10 per cent on the Indian bourses,after the UK-listed Thomas Cook Group Plc lost about 75 per cent of market value on mounting debt worries. The stock fell by 9.63 per cent to settle at Rs 39.90 a piece on the BSE.

The plunge on domestic bourses followed a major plunge of about 75 per cent in the London Stock Exchange-listed shares of Thomas Cook Group Plc,after the company said it was seeing deterioration of its cash and liquidity position and has initiated talks with banks for necessary funds.

Media reports also suggested that the company has been forced to restructure terms and conditions of debt worth one billion British pound for the second time within a month. Thomas Cook reportedly last month agreed to raise a fresh debt of 100 million pounds from its lender banks to meet its repayment obligations.