Easy Trip Planners to consider issue of bonus shares

The stock of Easy Trip Planners was seen buzzing on the bourses on Friday. The stock opened around the level of Rs 539 and made a high of Rs 565.60. The upmove in the stock price was seen on the back of a huge spurt in volumes. Volumes recorded for the day till now are in excess of 8 lakh, which is the highest single-day volume registered since November 23, 2021.  

Interestingly, the majority of the gains have been logged in the last one hour and similarly, the bulk of the volume has been recorded in the last one hour of trade. So, let’s know what triggered this impulsive move in the stock. 

The company has informed that a meeting of its board of directors is scheduled to be held on January 12, 2022, for considering the proposal for the issue of bonus shares. The stock made its debut on the exchanges last year in the month of March. Thereafter, it has rewarded its shareholders with handsome returns while in the month of September, it made an all-time high of Rs 717.65. 

Its current face value is Rs 2 and the number of shares in float is around 2.7 crore. Technically, the stock is trading in an ascending channel and also, managed to reclaim its 20-SMA on Friday.