Cox & Kings surges as SSG Capital Management acquires its subsidy

The share price of Cox & Kings surged by 5 per cent in the intraday trade on Thursday as private equity firm SSG Capital Management acquired 34.42 per cent in Cox & Kings subsidiary Prometheon Holdings (UK). Prometheon Holdings (UK) is the holding company of Holidaybreak. 
 
Following the development, Rohatyn Group will completely exit from Prometheon Holdings (UK), while Cox & Kings will continue to own 65.6 per cent in Holidaybreak. SSG Capital Management also holds 2.72 per cent shares in Cox & Kings. 
 
Cox & Kings has reported a 140 per cent hike in its net profit to Rs. 202.24 crore in the seocnd quarter of FY18 against Rs. 84.02 crore in the same quarter of the previous year.
 
The stock hit an intraday high of Rs. 263 per share and an intraday low of Rs. 252 per share on Thursday on BSE. The stock had hit its 52-week high of Rs. 305.50 per share on July 27, 2017 and its 52-week low of Rs. 158.30 per share on November 22, 2016 on BSE, respectively. At 1324 hours IST, the stock was trading at Rs. 252.50 per share, higher by 0.78 per cent on BSE.