Rategain Travel Sees Rs 161 Crore Block Deal; Avaatar Holdings Likely Seller

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 20th June 2024 - 03:33 pm

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Calculate On June 20, during block transaction window, Gain Technologies saw exchange of almost 21.6 lakh shares valued at ₹ 161 crore at price of ₹ 745 per share.

Rategain Travel Technologies' share price saw 3 percent increase to ₹ 774 per share during June 20 block transaction window, when about 21.6 lakh shares valued at ₹ 161 crore changed hands at ₹ 745 per share. Although we were unable to identify buyers or sellers right away, Avaatar Holdings was expected to sell 1.8 percent of company through this block deal, according to sources quoted by CNBC-Awaaz. floor price, according to reports, was fixed at ₹ 744.7 per share, which represented mere 1 percent discount to current market price. broker for this block transaction is IIFL Finance.

Rategain Travel's shares have increased by pitiful 3% so far this year, trailing benchmark Nifty 50 index, which has increased by 8% during same period. Prior to this, on February 16, 2024, Rategain Travel reached 52-week high of ₹ 921 per share.

Rategain Travel reported 11.2 percent YoY growth in consolidated net profit to ₹ 145 crore for quarter that ended in March, while operating revenue increased by 40 percent YoY to ₹ 256 crore.

Operating EBITDA for company increased by 72% YoY to ₹ 55 crore in Q4FY24 from ₹ 32 crore in same quarter previous year. Additionally, EBITDA margin increased from 17.5% to 21.5 percent in Q4FY24.
According to Bloomberg statistics, each of six analysts following firm has "buy" rating on Rategain Travel. Analysts' average 12-month target price suggested gain of more than 19%.

To Summarize

Shares of Rategain Travel Technologies surged 3% to ₹ 774 after 21.6 lakh shares worth ₹ 161 crore changed hands at ₹ 745 in block deal on June 20. Avaatar Holdings likely offloaded 1.8% stake. Despite 3% rise this year, shares underperformed Nifty 50's 8% gain.

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