Today, the RateGain Travel Technologies (RTTL) shares hit an all-time low of Rs 240.25, which slipped 3% on the Bombay Stock Exchange (BSE). In the past few days, the stock has fallen 9 per cent in the June quarter (Q1FY23).

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The stock of the hospitality and travel industry has plunged 43 per cent from its issue price of Rs 425 per share, and 54 per cent from its record high level of Rs 525 touched in January 2022.
The company had raised Rs 1,336 crore through an initial public offer (IPO), which had received a good response from the investors, getting subscribed 17.4 times.
“Business depends on customers renewing their contracts and on RTTL expanding its sales to existing customers. Any decline in its customer contract renewals or expansion or any impairment of its long-term relationships with its customers would adversely affect the business operations and financial performance. If RTTL cannot attract new customers in a manner that is cost-effective and assures customer success, then its business, results of operations and financial condition would be adversely affected are key concerns”, HDFC Securities.