Motilal starts India's TBO Tek with ‘buy’; stock heads for best day in over four months

Tbo Tek

24/03/2026 08:29

** Shares of TBO Tek TBOT.NS jump 5.2% to 1,071 rupees, set for best single-day percentage gain since November 2025

** TBOT set to end five-day losing run

** Motilal initiates travel services provider with "buy" rating and PT of 1,360 rupees

** Brokerage backs TBOT's shift away from low-margin air ticketing services to high-margin luxury hotel, cruise, car rental aggregation

** Hotels segment formed 84% of Q3 consol revenue

** Motilal sees TBOT's FY25-28 revenue growing at compounded annual rate of 35%, with profit rising 32%

** Adds, recently acquired U.S.-based luxury travel service provider Classic Vacations is expected to boost profitability

** Motilal and nine other analysts tracking stock rate it "strong buy" on average - data compiled by LSEG

** Stock, however, down ~36% YTD

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))