Tech stock gets block deal push as public shareholder sells entire stake 

Shares of RateGain Travel Technologies zoomed 8% in early deals amid reports of a block deal today.  Nearly 21.6 lakh shares worth  Rs 161 crore changed hands at Rs 745 per share on BSE. The floor price of the block deal was Rs 744.4 per share, said reports adding that public shareholder Avaatar Holdings was set to offload its entire 1.8% stake in RateGain. However, Business Today could not independently verify the details of the block deal. 
 
The RateGain Travel stock rose 8.09% to Rs 813 today against the previous close of Rs 752.10 on BSE. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 4.12 crore. Market cap of the firm rose to Rs 9437.32 crore on BSE.

It has risen 95% in the last one year and gained 12% since the beginning of this year. RateGain Travel shares have a beta of 0.7, indicating very low volatility in a year.

In terms of technicals, the relative strength index (RSI) of the stock stands at 57.3, signaling it's trading neither in the overbought nor in the overrsold zone. RateGain Travel stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Rategain Travel Techs. is one of the world’s largest processors of hotel bookings, pricing intelligence, and customer travel-intent, RateGain provides SaaS solutions for travel and hospitality helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.