This small cap stock offering a comprehensive range of travel solutions including air travel, holiday packages, hotels and rail services came into focus after 4 percent of the company’s stake exchanged hands on BSE.
Stock performance
With a market capitalization of Rs 13,337.84 crores, the shares of TBO TEK Ltd went up nearly 3 percent to an intraday high of Rs 1,237.95 per share compared to the previous closing price of Rs 1,207.35. The stock retraced and was trading at Rs 1228.30, marking a 2 percent increase from the previous close.
What Happened
Foreign investors Augusta TBO (Singapore) Pte Ltd sold a 4.26 percent stake in the company at an average price of Rs 1,200.04 per share, amounting to Rs 555.6 crore. Likewise, TBO Korea Holdings sold a 2.41 percent stake at an average price of Rs 1,200.02 per share, totaling Rs 314.42 crore.
Meanwhile ICICI Prudential Mutual Fund, Nippon India Mutual Fund, and SBI Mutual Fund purchased a 4.1 percent stake in the company at an average price of Rs 1,200 per share, valued at Rs 536.75 crore.
Company Overview
TBO Tek is among the top four global B2B travel distributors that streamlines travel by centralizing transactions. It connects various travel sellers, including airlines, car rentals, rail services, and hotels with a wide range of buyers such as travel agencies, tour operators, online travel companies, and independent travel advisors.
Financial Performance
According to the latest filings, TBO Tek Ltd reported a 29 percent increase in revenue from Rs 327 crore in Q3 FY24 to Rs 422 crore in Q3 FY25. The company saw a 2 percent decline in net profits from Rs 51 crore to Rs 50 crore during the same period.
Written by Shwetha Sairam
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