Easy Trip Planners approves a stock split and the issuance of bonus shares; stock price climbs by more than 2%
The well-known ticketing website EaseMyTrip.com is owned by Easy Trip Planners.
On March 19, 2021, the company made its stock market debut. The company is engaged in the business of scheduling travel and tourism-related services. Under its flagship brand, "Ease My Trip," the company provides a wide array of travel-related goods and services.
On Monday, Easy Trip Planners Ltd said that its board had approved a bonus issue of three shares for every one share owned, or a 3:1 ratio, as well as a 1:2 stock split. In an otherwise drastically downturned market, Easy Trip shares increased by more than 5% to Rs 428 a share in the early trading session on the BSE.
The board has agreed and recommended the aforementioned corporate actions in keeping with the inclusiveness of the company and to reward shareholders. A stock split is typically implemented to boost liquidity and lower the stock price for easier buying.
Additionally, it offers complete travel solutions, such as airline tickets, hotel and vacation packages, rail and bus tickets, taxis, and auxiliary value-added services like travel insurance and visa processing, as well as tickets for both activities and attractions.
Additionally, Easy Trip disclosed that it had changed the Capital Clause of the Memorandum of Association and increased its authorised share capital from Rs 75,000,000 to Rs 20,000,000.
The stock touched an intraday high of Rs 428 after starting the session at Rs 404. In the early hours of the trading session, the volume registered has been the greatest in the previous three trading sessions, which has supported the upward movement. On a year-to-date basis, the stock has increased by almost 55%, and during the past month, it has increased by about 6%.
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