On November 27, the shares of Travel Food Services Limited first saw a rise and then a fall. During the day, the stock rose by 6% from the previous closing price on BSE and created a new 52-week high of ₹1443. It later closed at ₹1345, down 1%.
It is a company in the airport travel quick-service restaurant (travel QSR) and lounge segment. ICICI Securities has initiated coverage for Travel Food Services shares with a ‘Buy’ rating. The target price has been kept at ₹1600 per share.
The listing of Travel Food Services Limited (TFS) took place in July 2025. Its ₹2000 crore IPO was filled 3 times. The face value of the share is ₹10. The market cap of the company is more than ₹17700 crore. The stock has risen 12% in 3 months.
ICICI Securities says that TFS is backed by experienced promoters and a renowned global company SSP Group. TFS has and continues to have good contracts. The company’s revenue will grow at a CAGR of 21% during FY25-28.
The brokerage further said that the company’s strategic partnership with Adani Group and GMR Airports will add to its growth. The growth is expected to improve its ability to win contracts at other airports in the future.