TBO Tek Shares Recover Losses, Rally 9%

After taking a beating for most of this year and giving a negative return of over 36% YTD to its investors, shares of listed travel tech company TBO Tek surged 8.64% to reach INR 1,133.00 during the trading hours on the BSE today. 

The company posted a 52-week low figure of INR 985.70 on April 7, the day Indian bourses collapsed after the US announced tariffs on all countries worldwide.

At 1:30 PM, the stock traded 7.4% higher at INR 1120.00 on the BSE, and the market capitalisation stood at INR 12,161.83 Cr. 

Not to forget, the company also continued its losing streak last week, falling 2.79% to close at INR 1,042.80. 

Earlier in March, Augusta TBO (Singapore) Pte Ltd and TBO Korea Holdings Ltd offloaded over 70 Lakh shares (representing a 6.8% stake) of TBO Tek for INR 870 Cr via bulk deals. 

In a filing on April 8, TBO Tek said that the RBI rejected its post-facto approval for receiving payments amounting to INR 71.22 Cr through third parties or a company registered in India on behalf of any person outside India.  

Founded in 2006 by Ankush Nijhawan and Gaurav Bhatnagar, TBO Tek offers a wide range of travel services to travel agents and tour operators, such as hotel reservations, flight bookings, holiday packages, insurance cover, and car rentals, among others.

The company entered the Dalal Street in May last year at a listing price of INR 1,380 on the BSE, a premium of 55% to its issue price. 

It was one of the 13 startups that went public last year, receiving an overwhelming response from the investors. However, following the slowdown in the broader Indian market since September last year, its shares have fallen 33.99% in the last six months. 

While the US unleashed a blitz in the Indian market with global reciprocal tariff announcements earlier this month, its decision to pause the tariff for 90 days brought the zeal in Indian bourses back with 28 out of the 32 stocks under Inc42’s coverage gaining in a range of 0.1% to over 20% last week. 

Not to forget, the US is retaining aggressive tariffs against China, while China’s retaliation with similar tariffs has also resulted in favour of India, as it can be a viable alternative for the US against China. 

Today, the Sensex ended 1.09% higher at 79,408.50, Nifty 50 also ended the trading session 1.15% above at 24,125.55.