Cox & Kings gains over 3% as Motilal initiates 'buy' rating

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    Shares of Cox & Kings rose over 3 per cent in early trade on Bombay Stock Exchange (BSE) after the domestic brokerage Motilal Oswal initiated a "buy" rating on the stock for a target of Rs 360. Motilal Oswal said Cox has 30 per cent share in the outbound travel market with 20-22 per cent gross margins, which is "best in the industry."

    The shares of company rose as much as 3.56 per cent to trade at Rs 269.10 a piece on the BSE.

    In a similar fashion, shares of the company rose 4.01 per cent to Rs 269.70 a piece on National Stock Exchange.

    Meanwhile, the broader benchmark Sensex was quoting at 25,692.27, up 173.03 points or 0.68 per cent at 11.02 hours.

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