TBO Tek shares gain 3%; Nuvama initiates 'Buy' with Rs 2,200 target
Executive Brief • Key Highlights
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- ✓TBO Tek shares rose nearly 3% to Rs 1,733 on Thursday after Nuvama initiated coverage with a Buy rating.
- ✓The brokerage set a target price of Rs 2,200 for the travel tech firm.
- ✓Nuvama expects strong growth, driven by international expansion and a higher contribution from the hotel business segment.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Shares of travel tech firm TBO Tek rose nearly 3% on Thursday to Rs 1,733 after brokerage Nuvama initiated coverage with a Buy rating and a Rs 2,200 target price. The brokerage expects a 35% earnings CAGR over FY27-FY29E, driven by international expansion and hotel business growth.
Shares of TBO Tek gained as much as 2.84% during Thursday's trading session, touching an intraday high of Rs 1,733. Brokerage firm Nuvama has initiated coverage on the travel technology company with a 'Buy' rating and a target price of Rs 2,200.
According to an ET Now report citing a Nuvama research note, the brokerage expects TBO Tek to deliver strong growth over the coming years, supported by international expansion, operating leverage and an increasing contribution from the hotel segment.
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