1:1 Bonus Shares Issue: Thursday, November 28 Record Date; A Promising Deal To Trade?

In terms of buying airline tickets, EaseMyTrip, a publicly traded business on the NSE and BSE, is one of the largest online travel platforms in India, according to the Crisil Report-Assessment of the OTA Industry in India. Additionally, it is one of the fastest-growing online enterprises, with profit before tax in FY20-24 increasing at a CAGR of 47%. When making bookings, users of EaseMyTrip have the option of paying no convenience fee. More than two million hotels, over 400 domestic and international airlines, railway and bus tickets, and taxi rentals for India's major cities are all accessible to users of EaseMyTrip. EaseMyTrip was established in 2008 and operates offices in several Indian cities, such as Bengaluru, Mumbai, Delhi, and Noida.

Easy Trip Planners Bonus Shares Record Date

"This is with reference to our previous communications dated October 14, 2024, and November 15, 2024, wherein we had informed about the recommendation of the Board of Directors and the subsequent approval by the shareholders for the issue of bonus shares in the ratio of 1:1. In compliance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Company has fixed Thursday, November 28, 2024 as the Record Date for the purpose of determining the members eligible for the issue of bonus equity shares," said Easy Trip Planners in a stock exchange filing.

Easy Trip Planners Financials

For the second quarter ending September 30, 2024, Easy Trip Planners Ltd. reported a 45.2% year-on-year (YoY) drop in net profit at Rs 25.8 crore. Easy Trip Planners reported a net profit of Rs 47 crore for the same quarter of the previous fiscal year. Compared to Rs 141.6 crore in the same period last year, revenue from operations rose 2% to Rs 144.6 crore in Q2FY25. In comparison to Q2 of FY24, when EBITDA was Rs 64.5 crore, it fell 42.8% to Rs 37 crore in the second quarter of the current fiscal year. Compared to 45.6% during the same period during the prior fiscal year, the EBITDA margin was 25.5% during the September 2024 quarter.

Easy Trip Planners Share Price Target

KKunal V Parar - VP of Technical Research and Algo at Choice Broking said, "The stock shows promising signs of an upside move based on the current technical setup. It has strong support at the previous bottom around the 28 level, which suggests a potential bounce if the price holds above this level. Additionally, a Bullish Engulfing candlestick pattern has formed, signalling a possible bullish reversal and further supporting the case for upward momentum."

"The RSI has recently emerged from the oversold zone on the weekly chart, indicating improving momentum and positive market breadth. Considering these factors, we anticipate the stock could see a significant upward move, with potential targets ranging from 35 to 43, provided it maintains support at 28. A strict stop loss should be placed at the 28 level to manage risk," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.