This travel service aggregator stock gets locked in 20% upper circuit on signing MOU to develop tourism in Assam

This travel service aggregator stock gets locked in 20% upper circuit on signing MOU to develop tourism in Assam

Indian Market
by 5paisa Research Team Last Updated: 2022-11-22T16:02:21+05:30

Ease My Trip zooms on signing MoU with ATDC to develop tourism in Assam.

Easy Trip Planners is currently trading at Rs 68.30, up by 11.15 points or 19.51% from its previous closing of Rs 57.15 on the BSE. The scrip opened at Rs 59.40 and touched a high and low of Rs 68.55 and Rs 59.00, respectively.

The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 68.30 today and a 52-week low of Rs 29.69.

EaseMyTrip has signed an agreement through a Memorandum of Understanding (MoU) with Assam Tourism Development Corporation (ATDC) during an event held on November 21, 2022. The objective of this MoU is to share resources and collectively collaborate to boost the growth of tourism in Assam. Bound by the MoU, EaseMyTrip will provide white-label solutions to endorse ATDC properties on its website and mobile application.

The agreement further substantiates the MoU between the parties and provides a distinct scope of the obligations that have been promulgated. As a stakeholder in this agreement, EaseMyTrip will provide white-label solutions to ATDC, including its complete booking process and payment gateway. The mandate also requires EaseMyTrip to ensure all reasonable efforts to provide uninterrupted customer support and services to ATDC and keep an updated hotel and property management suite at all times.

Easy Trip Planners (EaseMyTrip) is the second-largest online travel agency in India in terms of gross revenue. Ease my trip follows a unique pricing model in which the company doesn’t charge any convenience fee if the user doesn’t have any other discount option or promotion coupon the company also provides customer support through all stages and this has enabled the company to have a high repeat transaction rate of 85% in the B2C segment.

The promoters holding in the company stood at 74.90%, while Institutions and Non-Institutions held 4.96% and 20.14%, respectively.

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