Easy Trip Planners corrects on profit selling

Easy Trip Planners declined 3.30% to Rs 66 on profit selling after recent steep rally.

Shares of Easy Trip Planners surged 43.17% in the past two trading sessions.

On the BSE, 15.97 lakh shares were traded in the counter so far compared with average daily volumes of 12.60 lakh shares in the past two weeks. The stock hit a record high of Rs 70.25 and a low of Rs 64.45 so far during the day. The stock hit a 52-week low of Rs 29.69 on 23 November 2021.

The stock outperformed the market over the past one month, rising 34.72% compared with 3.74% increase in the Sensex.

The scrip outperformed the market in past one quarter, advancing 34.53% as against Sensex's 4.23% gain.

The scrip had also outperformed the market in past one year, climbing 107.42% as against Sensex's 4.88% rise.

On the technical front, the stock's RSI (relative strength index) stood at 78.114. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 20-day, 50-day and 100-day simple moving average (SMA) placed at 51, 50.05 and 49.78, respectively.

Meanwhile, the company's board approved the allotment of 130.37 crore equity shares as fully-paid up bonus equity shares, in the ratio of three equity shares for every one existing equity share. The record date for the same was 22 November 2022. Further, the company will credit the bonus shares/dispatch the share certificate, as applicable, on or before 8 December 2022.

Easy Trip Planners (EaseMyTrip) is India's one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. It offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value- added services.

On a consolidated basis, net profit of Easy Trip Planners rose 4.02% to Rs 28.22 crore on 91.53% rise in net sales to Rs 108.50 crore in Q2 September 2022 over Q2 September 2021.

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