RateGain Travel Technologies shares rallied nearly 5 percent intraday on January 16 after the European airline Sky Express selected AirGain to drive expansion in Europe.
AirGain is a responsive SaaS solution by RateGain created for commercial teams in airlines to help them make faster and better pricing decisions through its intuitive UI and accurate, real-time price intelligence.
"SKY Express has selected AirGain for accurate and realtime competitive pricing insights as it looks to expand it's footprint across Europe," said the SaaS solutions provider for travel and hospitality sectors.
RateGain said AirGain would help Sky express monitor critical OND routes 80 percent faster, allowing the airline to respond promptly to market shifts and deliver the most cost-effective service.
At the time of writing, the stock was trading at Rs 361.45, up 3.3 percent on the NSE. It has recouped all its previous day's losses.
With the rally, the stock formed a Bullish Engulfing candle on the daily charts, indicating a positive mood among participants. Overall, the stock has been in an uptrend, barring intermittent small corrections since forming a Bullish Harami pattern on the daily charts on December 26, 2022.
In the last three weeks, RateGain has rallied more than 38 percent.
In the quarter ended September 30, the company reported 54 percent sequential growth in consolidated profit at Rs 12.96 crore, driven by strong operating performance, though revenue increased by just 4.7 percent QoQ to Rs 124.6 crore.
On the operating front, EBITDA (earnings before interest, tax, depreciation and amortisation) grew 47.5 percent sequentially to Rs 17.58 crore and the margin expanded by more than 4 percentage points to 14.11 percent in the September quarter.
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