Easy Trip Planners Ltd., the parent company of online travel aggregator EaseMyTrip, announced on Wednesday that its Chief Executive Officer and one of the promoters, Nishant Pitti, has resigned effective Jan. 1, citing personal reasons.
The company's board of directors has approved the appointment of Rikant Pitti, the company's CFO and Nishant's brother, as the new CEO with immediate effect, according to an exchange filing.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
On Dec. 31, Easy Trip promoter Nishant Pitti divested a 1.4% stake in the company for Rs 78.32 crore through an open market transaction. He offloaded 4.99 crore shares, representing a 1.41% stake in the company, according to the bulk deal data available on the National Stock Exchange. Following this transaction, Pitti's stake in Easy Trip has reduced to 12.8%, while the combined promoter holding has decreased to 48.97% from 50.38%.
Earlier in September, Nishant Pitti had divested a significant 14% stake in the company, raising Rs 920 crore through open market transactions.
EaseMyTrip, operated by Easy Trip Planners, was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. The company has made several notable moves in recent months. In October, the board approved the issuance of bonus shares in a 1:1 ratio. The following month, it launched EMT Desk, an all-in-one platform aimed at transforming corporate travel.
Rikant Pitti, who co-founded EaseMyTrip in 2008, has played a key role in its growth and success. With over 16 years of experience in the travel and tourism industry, Rikant has developed a deep understanding of market trends and customer needs, positioning him well to lead the company into its next phase.
Easy Trip Planners Share Price Today
The travel company's stock was trading 1.07% lower at Rs 15.69 apiece, compared to a 0.39% advance in the benchmark Nifty 50 as of 15:22 p.m.
It has fallen 22.70% on a 12-month basis. The relative strength index was at 42.32.
The one analyst tracking the stock has a 'sell' rating on it, according to Bloomberg data. The 12-month analyst target price on the stock is Rs 21, implying an upside of 33%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.