Shares of Easy Trip Planners Limited started their trading session today at Rs 43.20 and currently trades at Rs 45.30. The scrip witnessed an intra-day high of Rs 46.80, indicating a gain of around 9 percent as compared to the previous closing levels of Rs 43.10. The company has a market capitalization of Rs 7,926 crores.
One of the probable reasons for the company’s stock prices to surge is pertaining to the recent filing published over the BSE. The filing mentioned the company becoming an official travel partner at the ‘World Padel League 2023’ (WPL), a racquet sport.
The collaboration between WPL and EaseMyTrip paves the way for providing travel solutions to the players, fans coming to have a visual, officials, etc.
The event took place from 8th-11th June 2023 in the Coca-Cola Arena, Dubai. Post the same, the stock prices of the company saw up movements gaining the above-mentioned percentage.
Having a glance at the financials reported by the company recently, the basic parameters such as the operating revenues and net profits, in the last 3 financial years, have consistently increased.
The latest movement in the former metric being from Rs 235 crores during FY21-22 to Rs 448 crores in FY22-23 and the latter, keeping the timeframe the same, having a movement from Rs 105 crores to Rs 134 crores.
The latest shareholding pattern data available for the March 2023 quarter exhibits the Promoters holding a 74.9 percent stake, and Foreign Institutional Investors (FIIs) holding a 2.06 percent stake in the company.
Commencing its operations back in 2008, Easy Trip Planners Limited made distribution channels and provided travel agents with access to its website in order to book domestic travel tickets for catering offline travel market in India.
It offers a wide range of products and services aligning the requirements of passengers with domestic travel plans as well as the ones traveling to and from international destinations.
Written by Amit Madnani
