Shares of B2B travel startup TBO Tek dropped 5.3% to INR 1427.70 apiece during the intraday trading session on the BSE today
Market capitalisation of the company currently stands at INR 15,504.71 Cr ($1.78 Bn)
Since its IPO listing on the BSE, the stock has gained 9.3% in value, as of its last close
Shares of B2B travel startup TBO Tek dropped 5.3% to INR 1427.70 apiece during the intraday trading session on the BSE today (February 25).
The stock closed at INR 1507.70 per share yesterday (February 24). It is observed that the shares are headed to break its three-day winning streak, if current loss holds.
Market capitalisation of the company currently stands at INR 15,504.71 Cr ($1.78 Bn).
To note, TBO Tek is one of the 13 new-age tech companies listed on the bourses last year, where the travel portal made a strong entry on the public market on May 15, 2024, as it listed at INR 1,426, a 55% premium over the issue price of INR 920 in NSE.
Similarly, in BSE, the stock price was listed at INR 1,380, a 50% premium of the similar issue price.
Since its IPO listing on the BSE, the stock has gained 9.3% in value, as of its last close.
Earlier this month, Brokerage PhillipCapital reaffirmed its ‘buy’ call on TBO Tek and gave the stock a target price of INR 2,090, citing strong business growth in the December quarter and the pivot to the higher-margin hotels and ancillary segment.
While the company also reported its consolidated net profit fell almost 2% to INR 49.97 Cr in Q3 FY25 from INR 50.79 Cr in the year-ago quarter, hurt by forex loss incurred during the quarter under review.
However, its revenue from operations zoomed over 29% to INR 422.18 Cr in the third quarter, from INR 326.85 Cr in Q3 FY24 on the back of strong growth in the hotels and ancillaries segment, both in India and the international markets.
Further, the startup has been expanding its presence in key international markets by establishing subsidiaries in the past few months, where it entered the markets of Indonesia and Greece last December alone.
Prior to that, the company also set up offices in Canary Island and Australia in the past year.
