Easy Trip Planners Shares: Shares of Easy Trip Planners, the parent company of online travel agency EaseMyTrip, fell sharply today. Its shares fell drastically on a block deal and lost about 10 percent. The revelation that co-founder and promoter Nishant Pitti is selling his holdings led to a surgical strike on the shares. Buying is happening at lower levels but shares are not getting much support. Currently, it is priced at Rs 15.55 on BSE with a decline of 8.80 per cent. In intra-day it had slipped by 9.91 percent to the price of Rs 15.36.
How much stake does Nishant Pitti now hold in Easy Trip Planners?
According to information received by CNBC-TV18 quoting sources, Easy Trip Planners co-founder and promoter Nishant Pitti has today sold his remaining 14.21% stake through a block deal. According to the report, this deal was done for about Rs 780 crore at an average price of Rs 15.6 per share. As of December 2, 2024, Nishant Pitti held 14.21% stake in the company. This created pressure on the shares. According to the report, through block deal, Craft Emerging Markets Fund PCC-Elite Capital Fund, Multitude Growth Funds, Craft Emerging Markets Fund PCC- Citadel Capital Fund, Nexpact and Eminence Global Fund bought stake. Earlier on September 25, Nishant had sold 14 percent stake for Rs 920 crore. Last year also he had sold its shares in June 2023.
How were the shares in one year?
Shares of Easy Trip Planners were at Rs 27 on February 8, 2024, which is a one-year record high level for its shares. This rise in shares stopped here and in about 9 months from this high level, it slipped by more than 89 percent to the price of Rs 14.23 on October 23, 2024, which is the record low level of one year for its shares. Shares recovered at lower levels and recovered more than 27 percent on the basis of buying, but it is still more than 41 percent downside from one year high.
How is the business health of EaseMyTrip’s parent company?
The September quarter was not special for EasyMyTrip’s parent company Easy Trip Planners. Its net profit fell 45.16 percent year-on-year to Rs 25.87 crore. However, revenue during this period jumped by 2.1 percent to Rs 144.67 crore. Operating profit during this period fell from Rs 67.65 crore to Rs 42.29 crore and margin also slipped from 46.8 per cent to 28.2 per cent.
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