There was a huge jump in the shares of Easy Trip Planners Limited, the parent company of online travel aggregator EaseMyTrip, on Monday. The company’s shares closed at Rs 17.84 on the BSE, up more than 15%. The surge comes after an important business update by the company, in which the promoters ruled out selling any stake in the future.
Stock performance and 52 weeks data
- 52 weeks high: Rs 27
- 52 week low: Rs 14.23
With this latest rally, the confidence of Easy Trip Planners investors in the company has further strengthened.
Big statement of promoter Nishant Pitti
Easy Trip Planners co-promoter Nishant Pitti announced on social media platform
- Nishant Pitti revealed that he sold 1.4% stake last week for his personal needs.
- Subsequently, he, Prashant and Rikant Pitti confirmed that there will be no more stake sales in the future.
This statement increased confidence among investors and a strong rise in shares was seen.
Nishant Pitti steps down as CEO, will remain chairman
- The day after the stake sale, Nishant Pitti stepped down as CEO.
- Now Rikant Pitti has been appointed as the new CEO of the company.
- However, Nishant Pitti will continue in his role as chairman of the company.
Nishant Pitti said that the funds raised by selling stake will be used to invest in the travel sector. Also, the company already has a cash reserve of Rs 400 crore in its books.
Rain of bonus shares: Big benefit for investors
Easy Trip Planners has given strong returns to shareholders over the last few years by issuing bonus shares three times:
- February 2022: Bonus in 1:1 ratio (1 bonus share for 1 share).
- November 2022: Bonus in 3:1 ratio (1 bonus share for 3 shares).
- November 2024: Bonus in 1:1 ratio.
Apart from this, the company had divided the shares in November 2022. Shares with face value of Rs 2 were divided into shares of face value of Rs 1.
EaseMyTrip’s growth and future plans
Easy Trip Planners Limited, popularly known as EaseMyTrip, is one of India’s fastest growing online travel aggregators. Recent updates and the policy of granting bonus shares have made it an attractive option for investors.
- Financial Position: The company plans further expansion in the travel sector with cash reserves of Rs 400 crore in its books.
- Investors benefit: The promoters’ refusal to sell stake and continuous bonus giving have given both confidence and returns to investors.
