Thomas Cook Foreign Exchange targets high growth Gujarat market

With a strategic intent to capitalise on the strong and growing demand from Gujarat, Thomas Cook (India) Limited, India's leading omnichannel forex services company, has inaugurated a new branch in the high potential market of Bhuj. This increases Thomas Cook's consumer access in the state to 7 locations across Ahmedabad, Baroda, Surat, Rajkot, Anand and Bhuj. In addition to the customers from the city of Bhuj, the new branch will also service customers from the surrounding catchments of Anjar, Mundra, Gandhidham, Kandla, Bhachau, Naliya, Madhapar and Jodiya.

The branch was inaugurated by Vice Presidents of Thomas Cook's Foreign Exchange business - Mr. Sudhir Nair and Mr.Jayesh Joshi.

Thomas Cook India is India's largest non-bank foreign exchange services provider. The Company is witnessing a strong uptick of 35%YoY for the twelve-month period ended Dec. 31, 2023.

Thomas Cook's data has highlighted Bhuj as a high growth market and the Company has chosen the location as a key driver of its strategic expansion and growth strategy. Bhuj's position as an important diaspora/NRI village offers a range of valuable consumer segments including students, business and leisure travellers. Additionally, Bhuj's proximity to India's major ports of Kandla and Mundra will enable Thomas Cook's business provide shipping/crew payments for this key segment.

Contact Details:
Thomas Cook (India) Limited
102, First Floor, Turning Point,
Opp. Luhana Samaj wadi, Santos Society,
Kutch District, Bhuj,
Gujarat - 370001

The new Bhuj branch will offer customers a range of Forex services including: cash across global currencies, Thomas Cook's borderless prepaid card (in partnership with Mastercard and Visa offering a wallet of 10 currencies), overseas remittances, drafts, wires and Study Buddy card for the overseas education segment.

The Company's Ghar pe Forex commitment of doorstep delivery in 2 hours, serves as a strong reassurance with a smooth and swift last mile delivery.

Customers will also benefit from the Thomas Cook Grand Forex Festival, till June 30th, 2024. On offer are a range of exciting prizes for customers buying foreign exchange, including: two smart watches daily, an iPhone 15 every week, and a grand prize of one Harley Davidson x440 every month.

Mr. Deepesh Varma, Executive Vice President - Foreign Exchange, Thomas Cook (India) Limited said, "Gujarat is a top market for us, and we are witnessing accelerated growth from not just Ahmedabad, but also strongly emerging markets like Bhuj. Our new branch in Bhuj hence intends to target the vibrant student hub, business & leisure customers, and the powerful shipping segment.

We have exciting offers including our current Grand Forex Festival and we look forward to welcoming customers to book their foreign exchange and avail of exciting prizes."

Shares of Thomas Cook (India) Limited was last trading in BSE at Rs. 170.70 as compared to the previous close of Rs. 172.15. The total number of shares traded during the day was 16293 in over 362 trades.

The stock hit an intraday high of Rs. 174.95 and intraday low of 168.30. The net turnover during the day was Rs. 2805441.00.

Source : Equity Bulls

Keywords

ThomasCookIndia INE332A01027 TravelSupportServices NewBranch Bhuj Gujarat