(Morgan Stanley Capital International Indices are globally recognized benchmarks for global equity markets & investors)
TTT NEWS NETWORK
MUMBAI, 7 DECEMBER 2023:
Global index services provider Morgan Stanley Capital International has announced that Thomas Cook India Limited (TCIL) – India’s leading Integrated Omnichannel travel services group, has been added to the MSCI (Morgan Stanley Capital International Index) Domestic Small Cap Index effective from November 30, 2023.
The Morgan Stanley Capital International Indices are globally recognized benchmarks for global equity markets & investors. MSCI indices offers investors a comprehensive overview of market performance by tracking select stocks/sectors in various geographies.
Since the MSCI Domestic Index plays a crucial role in attracting foreign institutional investors (FIIs) to invest in Indian equities, many global fund managers use the index as a guideline for allocating their investment portfolios across different countries. The addition of the TCIL stock to the MSCI will therefore, lead to wider participation & demand from global investors as it automatically puts the company on the radar of FIIs.
A large proportion of leading funds use the index as a benchmark, and hence the TCIL stock is also likely to witness increased demand with increased trading volumes and improved liquidity, making it more attractive in turn to domestic and international investors as a result.
Commenting on the announcement, Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited said, “The addition of TCIL to the MSCI Domestic Small Cap Index is a proud moment for us, because MSCI Indices are globally recognized benchmarks for global equity markets and recognition of our industry leadership & strong business performance. As a Group, we remain firmly committed to delivering strong, sustainable, long-term growth and profitability to our stakeholders.”
About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook (India) Limited (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Travel Circle International Limited (TCI 勝景), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa.
As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 28 countries across 5 continents.
TCIL has been felicitated with The Best Tour Operator at India Travel Awards North 2023, MICE Travel Operator of the Year at the Economic Times Travel & Tourism Awards 2023, winner of the Corporate Citizen Award (Travel Tourism & Hospitality) at the Corporate Citizen Conclave & Award 2023, The Outbound Tour Operator of the Year 2022 & 2019 at the SATTE Awards, IAMAI India Digital Awards 2022, CNBC-TV18 & ICICI Lombard India Risk Management Award – Travel & Leisure Category 2022 & 2021, CIO100 Award for digital innovation 2022, ‘Innovation in Omni-experience’ Award at International Data Corporation’s (IDC) Industry Innovation Awards 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018, Silver award for Asia’s Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019-2021, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.
CRISIL has reaffirmed the rating on debt programs and bank facilities of TCIL – ‘CRISIL AA- / Stable’ on the long-term bank facilities of TCIL and ‘CRISIL A1+’ rating on the short-term bank facilities and short- term debt of the company.
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