1:1 Bonus Share, Record Date To Be Fixed: Travel Stock Jumps 3.15%, TP Set At Rs 34.7, Buy?

Easy Trip Planners Ltd shares today surged over 3.15% on BSE. Current market price of Easy Trip Planners shares is Rs 29.79 per share. The company's market capitalisation stood at Rs 5278.91 crore. Easy Trip Planners Ltd shares declined 11% in last 2-weeks. The company on October 14, 2024 declared bonus share in the ratio of 1:1. The company has yet to declare the record date for 1:1 bonus share. Easy Trip Planners Ltd. has declared 3 dividends since April 27, 2021. At the current share price of Rs 29.79, Easy Trip Planners offers a dividend yield of 0.34%. FII/FPI have decreased holdings from 2.57% to 2.50% in Sep 2024 qtr. Number of FII/FPI investors increased from 59 to 70 in Sep 2024 qtr. Mutual Funds have increased holdings from 0.08% to 0.18% in Sep 2024 qtr. Number of MF schemes increased from 8 to 13 in Sep 2024 qtr. Life insurance corporation of india has 2.17% stake in Easy Trip Planners.

Franchise Store Launched In Odisha

The company on October 25, 2024 launched its first franchise store in Bhubaneswar, Odisha. This marks the 19th store unveiled under the company's flagship program, EaseMyTrip Franchise, further solidifying its commitment to connecting with offline customers through a wide-reaching network of retail stores. Mr. Rikant Pittie, Co-Founder of EaseMyTrip, commented, "We are excited to bring EaseMyTrip's services closer to our customers in Bhubaneswar. The EaseMyTrip Franchise program is part of our broader vision to establish a strong presence in key markets across India, providing travellers with unparalleled travelsolutions both online and offline. Bhubaneswar is a significant market, and this store launch is a vital step in catering to its growing travel community."

Easy Trip Planners Recommends 1:1 Bonus Shares

According to the BSE filing of Easy Trip Planners dated October 14, "EaseMyTrip.com, one of India's largest online travel tech platforms, has approved the issuance of 1 (one) bonus equity share for every 1 (one) fully paid-up equity share, as per the decision of the board meeting held today. The bonus shares will be issued from the company's available reserves as of March 31, 2024. This move highlights EaseMyTrip's commitment to rewarding shareholders, following two successful bonus issuances in 2022."

The key details of the EaseMyTrip bonus issue include a 1:1 bonus ratio, meaning one bonus share will be issued for every fully paid-up equity share. The total number of shares to be issued are 1,77,20,40,618 at a face value of Rs. 1/- each. The issuance will be financed using INR. 1772.04 million from the company's available reserves of INR. 3973.96 million, added the exchange filing.

Should You Buy Easy Trip Planners Shares?

According to A R Ramachandran, Independent SEBI Research Analyst, ""Easy Trip Planners is slightly bullish on the Daily charts with strong support at 28.5. A Daily close above resistance of 30.5 could lead to 34.7 in the near term."

Easy Trip Planners Shares Performance

The 52-week high price of Easy Trip Planners shares on BSE is Rs 54.00 per share (as on 08/02/2024) and 52-week low price is Rs 28.45 per share (as on 23/10/2024), respectively. Easy Trip Planners shares declined 30% in last 3-months, fell 25% in last 1-year and 38% in last 2-years.

About

EaseMyTrip (a public listed company at NSE and BSE) is India's one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zeroconvenience fees during bookings.

Disclaimer

The stock has been picked from the brokerage report of A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.