BAJAJ BROKING
Avataar Holdings sold a 1.98% stake in RateGain for ₹160.69 crore, offloading 21.56 lakh shares at ₹745 each. Major buyers include Axis Mutual Fund and ICICI Prudential. RateGain shares rose 3.28%, closing at ₹776.75.
Avataar Holdings, a promoter of RateGain Travel Technologies Ltd., divested a 1.98% stake in the company, amounting to ₹160.69 crore, through an open market transaction on Thursday.
The block deal data on the NSE indicated that Avataar Holdings offloaded 21.56 lakh shares at ₹745 each. As of March, Avataar Holdings held 1.83% equity in the company.
Explore:Rategain Travel Techn Ltd Share Price
The shares sold by Avataar Holdings found significant interest among institutional investors.
Following the transaction, shares of RateGain Travel Technologies closed 3.28% higher at ₹776.75 apiece on the BSE. This rise was notable against a modest 0.18% increase in the benchmark Sensex.
For the quarter ending in March, RateGain Travel reported a significant year-over-year increase in consolidated net profit by 112% to ₹145 crore. Revenue from operations grew by 40% YoY to ₹256 crore. At the operating level, EBITDA jumped 72% YoY to ₹55 crore, with an improved EBITDA margin of 21.5%, up from 17.5% a year earlier.
Despite these strong quarterly results, RateGain's shares have only risen by 3% this year, underperforming the benchmark Nifty 50 index, which saw an 8% rise over the same period. Earlier in the year, on February 16, 2024, RateGain shares had hit a 52-week high of ₹921 per share.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Standard Deviation: Meaning, How To Use and Calculate
14 Dec, 2024 | 5 Min. read
Business Forecasting: Definition, Methods, and Models
14 Dec, 2024 | 8 Min. read
Modern Portfolio Theory (MPT): Definition, Types & How To Use
14 Dec, 2024 | 8 Min. read
ASM & GSM Meaning - List of ASM & GSM Stocks
14 Dec, 2024 | 7 Min. read
What Is Nifty BeES? A Guide to Its Benefits and Working
14 Dec, 2024 | 6 Min. read
Nifty Healthcare Index
14 Dec, 2024 | 1 Min. read
Hedging: Meaning, Types, Risks and Strategie
14 Dec, 2024 | 6 Min. read
Bollinger Bands: Meaning, How To Interpret and Use
14 Dec, 2024 | 7 Min. read
Moving Averages Indicator: Variations & Examples
13 Dec, 2024 | 4 Min. read
Learn Everything About Breakout Trading
13 Dec, 2024 | 8 Min. read
Gold Price in India | Gold Drops 1% After Reaching Five-Week High
13 Dec, 2024 | 39 Min. read
Statement of Account and Demat Account: Meaning & Differences
13 Dec, 2024 | 4 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading