The shares of Easy Trip Planners were in focus on Monday as the stock started trading ex-split and ex-bonus. Its board of directors fixed 22nd November 2022 as the record date to finalize eligible shareholders for the issuance of bonus shares and stock subdivision.
The company’s shares were trading at ₹ 385.00 levels on Friday and its previous closing price was taken as ₹ 47.75, in order to incorporate the price adjustment on account of the corporate actions (bonus and split).
Ahead of the record date, its shares gained 20% to reach an intraday high of ₹ 57.30 apiece. They were trading at ₹ 55.80, up 16.86% at 12:40 PM on Monday.
Easy Trip Planners is one of the largest online travel platforms in India. It is a B2B2C (business to business to customer) distribution channel that offers end-to-end travel solutions, and travel-related products and services under its flagship brand ”Ease My Trip”.
The company had informed the bourses that it had declared a 3:1 bonus issue. Eligible shareholders will receive 3 bonus equity shares for every share that they hold in the company. In addition, it announced the subdivision of the existing equity shares of a face value of ₹ 2 each into two shares of a face value of ₹ 1 each. These shares will be credited/ dispatched within 2 months from the date of approval by the Board, i.e., by December 08, 2022.
Easy Trip Planners is a mid-cap company with a market capitalization of ₹ 8,299 crores. It has an excellent return on equity of 53.16% and an ideal debt-to-equity ratio of 0.12. Further, its shares are trading at a price-to-equity ratio of 66.60, which is almost at par with the industry P/E of 65.83.
Written by Simran Bafna
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
