EaseMyTrip jumps 4% as board to consider bonus issue on Jan 12
Lately, with the Omicron variant surfacing, the outlook for the stock has worsened as many people and companies are avoiding travel.
By Shubham Raj, ETMarkets.com |
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NEW DELHI: Shares of Easy Trip Planners, which runs the EaseMyTrip portal, surged on Friday after the company said its board will meet to discuss and approve issuing bonus shares.
“Please be informed that a meeting of the Board of Directors of the Company is scheduled to be held on, January 12, 2022, at 11.00 A.M. through video conferencing for considering the proposal for issue of Bonus Shares,” the company said in a regulatory filing.
Following the announcement, the counter jumped about 4 per cent on NSE.
The company was listed on the bourses last year and jumped significantly, delivering nearly three-fold returns, but it has struggled to perform recently as the pandemic has worsened.
The company earns its revenue by booking flight tickets for its customers. Lately, with the Omicron variant surfacing, the outlook for the stock has worsened as many people and companies are avoiding travel. Moreover, there are chances that the government may also ask airlines to fly at half of the capacity.
Just one analyst has coverage on the counter with a ‘buy’ rating, shows data available with Refinitiv. The target price is Rs 600.
“Please be informed that a meeting of the Board of Directors of the Company is scheduled to be held on, January 12, 2022, at 11.00 A.M. through video conferencing for considering the proposal for issue of Bonus Shares,” the company said in a regulatory filing.
Following the announcement, the counter jumped about 4 per cent on NSE.
The company was listed on the bourses last year and jumped significantly, delivering nearly three-fold returns, but it has struggled to perform recently as the pandemic has worsened.
The company earns its revenue by booking flight tickets for its customers. Lately, with the Omicron variant surfacing, the outlook for the stock has worsened as many people and companies are avoiding travel. Moreover, there are chances that the government may also ask airlines to fly at half of the capacity.
Just one analyst has coverage on the counter with a ‘buy’ rating, shows data available with Refinitiv. The target price is Rs 600.
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