Easy Trip Planners Ltd shares surged over 3.15% today, with the current market price reaching ₹29.79 per share. This increase brings the company’s market capitalization to ₹5,278.91 crore. However, it’s noteworthy that Easy Trip shares have declined by 11% over the last two weeks.
On October 14, 2024, the company announced a 1:1 bonus share issue, but the record date for this issuance has not yet been set. At the current share price of ₹29.79, Easy Trip offers a dividend yield of 0.34%. Additionally, Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) slightly reduced their holdings from 2.57% to 2.50% in the September 2024 quarter, although the number of FII/FPI investors increased from 59 to 70. Meanwhile, mutual fund holdings rose from 0.08% to 0.18%, with the number of mutual fund schemes growing from 8 to 13. Life Insurance Corporation of India holds a 2.17% stake in the company.
On October 25, 2024, Easy Trip launched its first franchise store in Bhubaneswar, Odisha. This marks the 19th store under the company’s EaseMyTrip Franchise program, aimed at enhancing offline customer engagement. Co-founder Mr. Rikant Pittie expressed excitement about this launch, stating it will help cater to the growing travel community in Bhubaneswar.
Share Performance Overview:
- Current Price: ₹29.79
- Market Capitalization: ₹5,278.91 crore
- Recent Performance:
- Declined 11% in the last two weeks
- Fell 30% in the last three months
- Decreased 25% over the last year
- Down 38% over the last two years
- 52-week High: ₹54.00 (February 8, 2024)
- 52-week Low: ₹28.45 (October 23, 2024)
Analyst Insights:
Analyst A R Ramachandran indicates a slightly bullish outlook, noting strong support at ₹28.5. He suggests that a daily close above ₹30.5 could pave the way for the stock to reach a target of ₹34.7 in the near term.
In summary, while Easy Trip Planners has positive developments like the bonus share announcement and franchise expansion, the stock has faced significant declines over the past year. Investors should keep an eye on its performance and consider the analyst’s insights for future decisions.
Disclaimer: This information is for informational purposes only and should not be considered financial advice. Always conduct your own research or consult a financial advisor before making investment decisions. Past performance is not indicative of future results.
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