Promoter sold 49,30,99,666 shares: Stock under Rs 40 in focus as the company enters into an exclusive agreement with PhonePe
Yesterday, the company's promoter, Nishant Pitti. Pitti offloaded a substantial quantity of shares, totalling 49,30,99,666, worth a staggering Rs 18,40,13,12,449.
In a move poised to significantly impact the travel booking landscape in India, EaseMyTrip, a leading online travel agency (OTA), has joined forces with PhonePe, the country's dominant fintech platform. This exclusive partnership marks the launch of EaseMyTrip's Hotels segment directly within the PhonePe app, offering a seamless and convenient booking experience for millions of users. PhonePe users will now have access to a vast selection of domestic and international hotels, all conveniently located within the app they already use for various financial transactions. This collaboration goes beyond just providing access; PhonePe users can expect to benefit from exclusive deals and special offers on hotels, curated by EaseMyTrip's expertise.
The partnership extends beyond just hotels, however. EaseMyTrip plans to leverage PhonePe's extensive user base to introduce additional travel booking features in the future. This includes integrating activities and cab bookings directly into the app and creating a one-stop shop for all travel planning needs. This comprehensive approach, combined with EaseMyTrip's user-friendly interface, competitive pricing, and flexible booking options (including free cancellations), promises to revolutionize travel booking for PhonePe users. The strategic alliance between EaseMyTrip's travel knowledge and PhonePe's immense reach has the potential to redefine convenience for Indian travellers, allowing them to plan their entire trip, from accommodation and activities to potentially even transportation, all within a single platform.
Yesterday, the company's promoter, Nishant Pitti. Pitti offloaded a substantial quantity of shares, totalling 49,30,99,666, worth a staggering Rs 18,40,13,12,449. These shares were sold to various retail investors through open-market transactions. The data for this transaction was obtained from NSE's Bulk and Block deals.
Today, the shares of the company were trading at Rs 36.70 per share, up 7 per cent from its previous closing of Rs 34.30 per share. The stock’s 52-week high is Rs 54 and its 52-week low is Rs 32.83.
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About Easy Trip Planners Ltd
A publicly traded Indian travel platform, EaseMyTrip is one of the largest for air ticketing and among the fastest-growing internet companies. Founded in 2008 and profitable since the beginning, they offer flights, hotels, holidays, rail & bus tickets and other travel needs with no convenience fees. They connect users to over 400 airlines, 2 million hotels, and various local transportation options, operating in India with offices in major cities and internationally through subsidiaries. The company has a market cap of over Rs 6,000 crore.
Earlier, Easy Trip Planners Ltd, through its new subsidiary Easy Green Mobility, ventured into the electric bus manufacturing market. The company aims to manufacture EV buses, with YoloBus serving as its operating arm. This initiative marks a significant milestone in EaseMyTrip's commitment to sustainable mobility. With a focus on cutting-edge technology and energy-efficient battery systems, Easy Green Mobility aims to capture a significant share of the growing Indian electric bus market, offering innovative and eco-friendly travel solutions.
Disclaimer: The article is for informational purposes only and not investment advice.