The stock outperformed the market over the past one month, soaring 6.42% compared with 3.05% decline in the Sensex.

The scrip outperformed the market in past one quarter, surging 10.60% as against Sensex's 3.96% rise.

The scrip underperformed the market in past one year, falling 24.13% as against Sensex's 0.18% fall.

On the technical front, the stock's daily RSI (relative strength index) stood at 65.13. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 292.47, 289.23 and 299.91, respectively. These levels will act as crucial support zones in near term.

Meanwhile, RateGain Travel Technologies announced that it completed the acquisition of US-based Adara Inc. on 9 January 2023. It entered into a definitive agreement to acquire Adara Inc. through an asset purchase agreement.

Adara Inc is one of the world's largest travel data exchange platforms, providing access to permissioned and ethically sourced intent data.

Adara uses Artificial intelligence to combine the power of global data consortiums with over 24+ billion data elements across 130 countries powering digital marketing, programmatic advertising, campaign measurement, and CRM and retention, helping its customers create better connections to drive more consumer engagement and profitability. Adara has a global presence with customers across geographies - US, Europe, Middle East and Asia. Adara's revenue from operations stood at $27.4 million (about Rs 204.4 crore) in FY 2021-22.

The transaction does not involve any share acquisition. The asset purchase transaction will be carried out for cash consideration of $16.1 million (about Rs 132.4 crore). This includes upfront $14.6 million (about Rs 120.1 crore) and deferred $1.5 million (about Rs 12.4 crore) to be paid on or prior to 31 December 2023.

The acquisition is aligned to RateGain's vision of building an integrated Revmax platform – focused on customer acquisition and wallet share expansion. It will help build one of the largest & most comprehensive source of travel intent data in the world that is permissioned and ethically sourced, impacting every step of the traveler's journey. It would also deepen access to marketing & commercial leaderships in large enterprises including expansion into adjacent travel segments like Destination Management Organizations (DMOs) and large airlines.

The acquisition will also strengthen and consolidate RateGain's position across commercial teams in leading hotel chains, airlines and car rental companies which work with both Adara and RateGain as well as give access to a niche segment of over 50+ Destination Marketing Organizations in the United States.

Together Adara and RateGain will become the most comprehensive travel-intent platform that processes over 200 billion ARI updates, manages close to 30 billion data points and works with 700+ partners across 100+ countries giving the industry a single source to understand intent, target them and convert them.

RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. The company is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business.

The company reported a consolidated net profit of Rs 19.57 crore in Q2 FY23 as against a net loss of Rs 3.69 crore in Q2 FY22. Revenue rose by 47% YoY to Rs 124.61 crore during the quarter.