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    RateGain sees strong travel demand ahead — thanks to Diwali, cricket and weddings

    RateGain sees strong travel demand ahead — thanks to Diwali, cricket and weddings

    RateGain sees strong travel demand ahead — thanks to Diwali, cricket and weddings
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    By CNBCTV18.com  IST (Published)

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    RateGain share price: The RateGain stock rose on Thursday, after a report by the company suggested strong travel demand in the country in the coming three months.

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    RateGain Travel Technologies — a provider of travel and hospitality tech solutions through a software as a services (SaaS) platform — expects travel demand in India to return to 2019 levels, a year it recognises as the best for travel the world over. 
    RateGain shares rose as much as 2.2 percent to Rs 296.5 apiece on BSE, as a report by the company suggested strong travel demand in the country in the next three months. 
    Arrivals in Delhi are expected to come in 17 percent higher and in Mumbai four percent higher around Diwali 2022 compared to 2019 levels, according to RateGain's PULSE report, which focuses on travel demand to and from India over the next three months.
    Here are a few highlights of the RateGain report:
    • Cricket fans driving international outbound demand from India
    • International arrivals expected to pick up from September
    • Domestic demand to Delhi seen surging around Diwali on wedding and festive season boost
    • "India loves cricket and outbound travel demand from India over the next 60-90 days is a clear proof of that, with demand to destinations in Australia seeing a sharp rise in October and November, which would be coinciding with the upcoming ICC T20 World Cup with arrivals to Melbourne increasing by close to 50 percent in November," said RateGain, eyeing a booming festive season for travel.
      The eighth ICC Men's T20 World Cup is scheduled to be played in Australia from October 16 to November 13.
      Besides, Indians are also flocking to Bali, with Indonesia opening up international travel after a long period of time, according to the report. RateGain expects outbound travel from India is expected to pick up over the next 3-6 months, it said.
      The PULSE report is based on data from RateGain’s Airline Travelers’ Forecast
      module of Demand AI, which uses artificial intelligence to interpret the actual number of travelers, the source market mix and the demand from these markets over the next 90 days.
      The RateGain stock has regained some of its lost steam in the past one month, a period in which the Nifty50 benchmark has risen 1.2 percent.
      As of Wednesday, RateGain Travel Tech shares changed hands at a discount of 31.8 percent to the upper end of their IPO price range. The stock has stayed below the issue price for much of 2022.
      RateGain shares debuted on bourses BSE and NSE in December last year. 
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