India's TBO Tek set for best day on record after Classic Vacations deal

Tbo Tek

03/09/2025 08:06

** Shares of TBO Tek TBOT.NS rise 12.7% to 1,558.90 rupees, set for best day on record, if gains hold

** Travel distribution co acquires U.S.-based Classic Vacations for up to $125 million as it looks to enter North American luxury travel market

** Classic Vacations was previously owned by The Najafi Companies - founded by Iranian American billionaire Jahm Najafi, who bought it from Expedia Group EXPE.O in 2021

** It reported revenue of $111 million and an operating EBITDA of $11.2 million for the year ended Dec 31, 2024

** Around 2.7 mln shares traded, 22x 30-day avg

** Eight analysts rate it "buy" on average, median PT 1,617.50 rupees - data compiled by LSEG

** Stock down 13% YTD

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))