Easemytrip Share Updates

Shares of Easy Trip Planners Ltd nosedived by 20% on Wednesday, hitting their record low of Rs 32.83, as they reached the lower circuit limit. The stock saw heavy trading activity on the BSE, with around 5.66 crore shares changing hands, significantly higher than the two-week average volume of 9.87 lakh shares. The turnover on the counter stood at Rs 203.43 crore, and the company’s market capitalization dropped to Rs 6,202.14 crore.

The sharp decline in Easy Trip Planners’ stock price followed reports that promoter Nishant Pitti is expected to sell 15 crore shares in a block deal, representing 8.50% of the company’s total share capital. The floor price for the block deal was reportedly set at Rs 38, with the overall transaction valued at Rs 580 crore.

Easemytrip Share Technical Analysis

On the technical front, the stock appears weak. Analysts suggest that support could be seen at Rs 32, with further potential downside toward Rs 30 and Rs 28.

According to Osho Krishan, Senior Research Analyst at Angel One, “EaseMyTrip shares have experienced a breakdown from the crucial support zone of Rs 39-38, driven by high trading volumes. The stock looks weak on daily charts, and the Rs 32-30 range will be vital for cushioning the fall. If the stock manages to sustain above the Rs 42-43 range, fresh traction may occur.”

AR Ramachandran, a SEBI-registered research analyst, also weighed in, stating, “Easy Trip Planners is currently bearish but oversold, with next support at Rs 30.25 on the daily charts. Investors should consider buying only if the stock closes above Rs 38.6.”

Ravi Singh, Senior VP at Religare Broking, echoed similar concerns, suggesting the stock may slide further toward Rs 28, with resistance holding firm at Rs 38.

Technical Indicators

The stock is trading below its 5-day, 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs), signaling continued weakness. The 14-day Relative Strength Index (RSI) stands at 29.12, indicating the stock is in an oversold territory (an RSI below 30).

Fundamentals

As per BSE data, Easy Trip Planners has a price-to-equity (P/E) ratio of 57.11 and a price-to-book (P/B) value of 11.40. The company’s earnings per share (EPS) is 0.72, with a return on equity (RoE) of 19.96%.

About Easy Trip Planners

Founded by brothers Nishant, Rikant, and Prashant Pitti, Easy Trip Planners is a leading online travel agency (OTA) specializing in airline ticketing, hotels, and holiday packages. The company operates through B2C, B2E, and B2B2C channels and has partnerships with traditional travel agents in Tier II and III cities.

As of June 2024, Nishant Pitti held 28.13% of the company’s shares, while Rikant held 25.88% and Prashant owned 10.29%. Together, the promoter group controls 64.30% of Easy Trip Planners.

Disclaimer: The information provided here is for educational purposes only and should not be considered investment advice. Always consult a financial advisor before making investment decisions.