India's RateGain rises as Anand Rathi starts with "buy"

RateGain Travel Technologies

10/01/2023 06:17

** Shares of RateGain Travel Technologies  RATE.NS  rise as
much as 4.37% to 321 rupees, highest since Aug. 17
    ** Anand Rathi starts RATE with "buy" and 415 rupees PT,
saying the provider of SaaS solutions to hospitality and travel
firms is poised to address a large market
    ** Brokerage says customers see RATE's products as a means
to cut costs rather than investing in building themselves
    ** Says RATE's personalised products will help boost
customer wallet-share and lower customer-acquisition costs
    ** The two other brokerages covering RATE also rate it
"buy," with PTs of 400 rupees and 425 rupees -Refinitiv data
    ** ~1 mln shares traded as of 11:19 a.m. IST, 3.5x the
30-day avg of 2,83,370
    ** RATE fell ~23% in 2022
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))