India, Feb. 13 -- Brokerage PhillipCapital has reaffirmed its 'buy' call on B2B travel tech company TBO Tek, citing strong business growth in the December quarter and the pivot to the higher-margin hotels and ancillary segment.

The brokerage gave the stock a target price of INR 2,090, which implies an upside potential of 29% from its previous close.

Shares of TBO Tek were trading 0.93% lower at INR 1,603.80 apiece on the BSE at 1:12 PM today. While the stock has slipped a marginal 0.8% in the last 5 trading sessions, it has given an upward run of 15% since its public listing in May 2024.

In its latest research note, PhillipCapital said it believes that TBO Tek is a structural play on India and global outbound travel.

"Its strategic sh...