India's TBO Tek gains after Jefferies starts with 'buy'

Tbo Tek

08/11/2024 08:02

** Shares of TBO Tek  TBOT.NS  climb 3.4% to 1,737.95
rupees, set for third straight session of gain
    ** Jefferies starts coverage on stock with "buy" and PT of
2,000 rupees
    ** Jefferies' PT represents ~19% premium to last close and
is second-highest among six analysts tracking TBOT - LSEG
    ** TBOT, which operates travel booking platform for
businesses, is building a wholesale engine in travel tech space
with rising contribution from margin-boosting hotels business,
brokerage says
    ** Avg rating on TBOT is "strong buy"; median PT is 1,975
rupees - LSEG data
    ** Stock up ~24% since listing in May
     

(Reporting by Kashish Tandon in Bengaluru)
((Kashish.tandon@thomsonreuters.com))