Buy RateGain Travel Technologies, target price Rs 349: IIFL

IIFL has buy call on RateGain Travel Technologies with a target price of Rs 349. The current market price of RateGain Travel Technologies is Rs 344.65. IIFL recommended to keep stop loss at Rs 322.

RateGain Travel Technologies, incorporated in the year 2012, is a Large Cap company (having a market cap of Rs 3617.26 Crore) operating in General sector.

RateGain Travel Technologies key Products/Revenue Segments include Software Services for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 131.44 Crore, up 3.45 % from last quarter Total Income of Rs 127.05 Crore and up 49.74 % from last year same quarter Total Income of Rs 87.78 Crore. Company has reported net profit after tax of Rs 12.96 Crore in latest quarter.

The company’s top management includes Mrs.Megha Chopra, Mr.Nishant Kanuru Rao, Mr.Girish Paman Vanvari, Mr.Aditi Gupta, Mr.EC Rajakumar Konduru, Mr.Bhanu Chopra. Company has Walker Chandiok & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 11 Crore shares outstanding.

Investment Rationale
The stock has given a consolidation breakout.

Promoter/FII Holdings
Promoters held 55.82 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.18 per cent, DIIs 8.03 per cent.