Easy Trip Planners Share Price Hits Over Two–Month High As It Turns Ex–Bonus

Easy Trip Planner Ltd.'s share price rose to the highest level in over two months as the stock started trading ex–bonus on Friday. The company issued bonus share in 1:1.

The parent company of EaseMyTrip issued one share for each share held by eligible share holders on Friday, which is selected as a record date, the company informed the exchange on Nov. 19.

On Thursday, Easy Trip Planners launched EMT Desk, a comprehensive business travel platform to enhance the corporate travel experience. "EMT Desk combines strategic oversight, employee-friendly benefits, and real-time travel management under one intuitive system," the filing said.

EMT Desk intends to meet unique requirement of corporate clients. A travel manager will oversee each account, provide strategic planning and budget analysis for efficient, cost-effective business travel, it said.

Easy Trip Planners Ltd.'s share price jumped 13.71%, the highest level since Sept. 25, before paring gains to trade 12.86% higher at Rs 18.43 apiece as of 10:08 a.m. This compares to a 0.53% advance in the NSE Nifty 50.

The market–cap of Easy Trip Planners rose Rs 678.69 crore to Rs 6,46.40 crore as of 10:09 a.m.

Easy Trip Planners hit 52–week high of Rs 27 apiece on Feb. 9, while it touched the 52–week low of Rs 14.21 on Oct. 23.

The stock declined 4.3% in 12 months, and 8.95% on year-to-date basis. Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 66.32.

The one analyst tracking the company suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 4.6%.