Shares of Travel Stock, Easy Trip Planners Surged 4% On Fundraising Plan

A good rise of around 4 per cent was recorded in the shares of Easy Trip Planners Limited and the shares of the company with a market cap of about Rs 9370 crore were functioning at the level of Rs 53.20.

Easy Trip Planners has informed the stock market that it has decided to issue non-convertible debt instruments and equity shares to raise funds. The company is also preparing to raise funds through qualified institutional placement. Along with this, the company is also considering a change in the authorized share capital. A meeting of the Board of Directors of Easy Trip Planners was held on 6 February in which these issues were discussed and approved.

DRS Finvest Founder Ravi Singh has said, "Ease my Trip is looking strong on technical parameters with a surge in recent volumes. The company has posted improved margins in recent quarters with a sustainable business model. The momentum indicators are suggesting an immediate target of 60 levels in the counter in the near term."

Shares of Easy Trip Planners had also seen a high of Rs 53.20 in the intraday trading. The shares have a 52-week high of Rs 53.60 and a 52-week low of ₹ 37. In the last 5 days, the shares of Easy Trip Planners have given a return of 12 per cent to the investors, in the last one month it has given a return of 22 per cent and in the last 6 months, it has given a return of 32 per cent.

Recently, Easy Trip Planners Ltd said in a regulatory filing that it has acquired a 13.39 per cent stake in Eco Hotels and Resorts in a share swap deal. The company's investment in equity shares of Eco Hotels India is swapped with equity shares of the latter in the ratio of 1:1, Easy Trip Planners, which operates under the brand EaseMyTrip.

Easy Trip Planners is a leading company in the travel and tourism business of India. At present, it has made its global presence with more than 50,000 travel agents, 1200 franchise outlets and 1600 distributors.