We have covered Cox & Kings in Mar-12 with
note “We are not recommending buy at current valuation. But any further decline
in future will be tempting opportunity.”
Subsequently stock has come down to 119 and has
been trading around 140. Result for FY 2012-13 Q1 & Q2 has been good. In Aug-12 City Venture Capital International
agreed to invest USD 137.75 millions in Cox & Kings Ltd's UK Subsidiary. This investment was intended to retire part of debt taken by subsidiary to acquire HolidayBreak Plc.
Despite of this good news stock has not moved up substantially.
We recommend to avoid stock at this moment.
Disclaimer: Any purchase/sale of a stock involves a high degree of investment risk. Caution all investors that they may lose some or all of their investment if they decide to purchase any stock listed here.
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