Travel Food Services Ltd. shares surged over 3% today following the announcement that the company has been awarded a license to set up and operate food and beverage outlets, lounges, and bars in the security hold area of the Domestic Terminal (T1) at Cochin International Airport.
The license, granted by Cochin International Airport Limited (CIAL), is for an initial term of five years, with a possibility of extension for an additional two years as per the agreed terms of the Letter of Award (LOA). Under the contract, Travel Food will operate 12 units, including 11 Travel QSR outlets and one lounge, subject to necessary approvals.
The company confirmed that there are no related party interests involved in this contract, which falls entirely within its domestic operations.
On the stock front, Travel Food opened at ₹1,299, touched an intraday low of ₹1,281 and a high of ₹1,309.70, closing significantly higher than its previous close of ₹1,263.10. The stock remains below its 52-week high of ₹1,340.10 but has risen sharply from its 52-week low of ₹1,008.50.
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