Thomas Cook Shares Jump On South Korea Tourism Partnership

Thomas Cook (India) Ltd.'s shares rose nearly 5% on Thursday, following the announcement of a partnership between its group company, SOTC Travel, and the Korea Tourism Organisation. The 24-month collaboration aims to boost tourism from India to South Korea, leveraging the country's growing popularity among Indian travellers.

The partnership will focus on developing special projects designed to increase South Korea's visibility within the high-potential Indian market. Recognising the growing influence of Korean pop culture, including K-pop and K-dramas, the collaboration will highlight the diverse experiences South Korea offers, spanning luxury travel, cultural immersion, wellness retreats, and culinary adventures.

The agreement encompasses knowledge exchange and the creation of unique travel products tailored to the preferences of Indian tourists, according to an exchange filing. This initiative seeks to foster long-term growth in leisure, business, and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism segments for South Korea.

The global 'Hallyu' wave, which encompasses Korean entertainment and culture, has significantly amplified South Korea's appeal. The booming K-beauty industry, immersive K-pop experiences, and popular K-dramas have captured the attention of audiences worldwide. Korean cuisine, known as 'Hansik', with its bold flavours and healthy ingredients, adds another layer of attraction for Indian travellers.

Shares of Thomas Cook (India) rose as much as 4.98% to Rs 125.43 apiece. They pared gains to trade 4.51% higher at Rs 124.87 apiece, as of 09:51 a.m. This compares to a 0.33% decline in the NSE Nifty 50.

The stock has fallen 25% in the last 12 months. Total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 31.

All three analysts tracking the company maintain a 'buy' rating for the stock, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 79.1%.