India's Yatra Online rises after Investec starts coverage with 'buy'

Yatra Online

21/12/2023 06:59

** Shares of Yatra Online  YATR.NS  rise 3.8% to 137.3
rupees
    ** Investec starts coverage with "buy" rating and PT 215
rupees, implying a near 63% upside to YATR's last close  
    ** Yatra 3x larger than MakeMyTrip  MMYT.O  in the
enterprise online travel agency business - Investec 
    ** Says post-IPO, Yatra "well placed to invest in technology
and supplier agreements that will help boost growth and margins"
    ** Our estimates are conservative, room exists to drive a
consistent beat and raise cycle - Investec 
    ** More than 464,000 shares changed hands by 12:27 p.m. IST,
1.2x 30-day avg
    ** As of last close, YATR down nearly 3% since listing on
Sept. 28 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))