Shares of RateGain Travel Technologies jumped by 6% and hit an all-time high

Today the Sensex closed approximately 0.77% higher and the BSE Information Technology index also closed higher by 0.89%. Mostly all the sectors closed in green today. However, one IT stock stood out reaching an all-time high and surging by 5.65% namely RateGain Travel Technologies Ltd. Interestingly over the past year while the BSE Information Technology index managed to increase by just 6.22% the company’s shares generated a multibagger return of 122.29%. 

RateGain Travel Technologies Ltd is the leading distribution technology company globally and the largest software as a service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries.  

Yesterday the script was closed at Rs 625.20. Today, it opened at Rs 637.70 and closed at Rs 660.50, up by 5.65%. Today the shares of the company hit an all-time high at Rs 682 and it has a 52-week low at Rs 262.65. The company currently commands a market capitalization of approximately Rs 7,160 crore.  

Last week the company announced their financials after that it started to surge. Talking about the financials of the company, on a consolidated basis, in Q2FY24 the company recorded a financial performance with a 131.7% year-on-year increase in net profit, reaching Rs 30.04 crore compared to Rs 12.96 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company’s total net revenue showed an increase of 88.4% from Rs 124.61 crore to Rs 234.72 crore compared to the same quarter in the preceding year.     

For the quarter company’s growth strategies include pursuing strategic investments and acquisitions, expanding Data as a Service (DaaS) and Distribution offerings, scaling up Adara through aggressive sales and cross-selling, leveraging travel intent data and offering AI-led products. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.