Travel Stock Under Rs 58 Rallies 27% In 1-Week, Unveils New Subsidiary

Small cap company operating in travel and tourism industry, Easy Trip Planners Ltd shares gained 27% in last 1-week only amid the ongoing India-Maldives row. Last trading price of Easy Trip Planners share on BSE is Rs 51.81 per share with intraday gain of 16.98% as on Jan 11, 2024.

Easy Trip Planners shares soared 34% in last 1-month and gained 19% in last 6-months. Earlier, Maldivian tourism body urged EaseMyTrip to re-open flight bookings on its platform to the island nation even as the website of Easy Trip provides discounts for travel within in India.

Easy Trip suspended all flight booking to Maldives following the distasteful comments made by now-suspended Maldivian ministers against India and Prime Minister Narendra Modi following his visit to Lakshadweep.

Yesterday, EaseMyTrip provided discount codes NATIONFIRST and BHARATFIRST to its customers amid the Maldives-India row. "Now use discount codes NATIONFIRST or BHARATFIRST @EaseMyTrip to avail better discounts," CEO and co-founder Nishant Pitti shared on X platform formerly Twitter.

EaseMyTrip Unveils New Subsidiary: EaseMyTrip Insurance Broker: Meanwhile the company issued a BSE filing today stating, "EaseMyTrip.com, one of India's second largest online travel tech platform has launched its new subsidiary, EaseMyTrip Insurance Broker Private Limited. This is a strategic move by the company to diversify its service portfolio and tap into the insurance market by creating a specialized product to solve customer needs. The new venture is expected to solidify EaseMyTrip's position in the industry and cater to an INR 7.9 trillion market with EaseMyTrip's own 20 Million userbase."

India is the fifth largest life insurance market in the world's emerging insurance markets, growing at a rate of 32-34% each year. The Indian Insurance market is expected to reach US$ 200 billion by 2027. The subsidiary is a testament to the brand's unwavering commitment towards increased customer satisfaction and offerings, added the regulatory filing.

Mr. Nishant Pitti, CEO and Co-Founder, EaseMyTrip, expresses his enthusiasm about the venture, stating, "We are elated to announce the launch of EaseMyTrip Insurance Broker Private Limited. This new subsidiary is a major step forward for us as we diversify our services and enter the insurance market. We aim to offer complete travel ecosystem for our customers and this new addition is a progressive step towards the same."

Easy Trip Planners Stock Performance & Return: The stock's 52-week high price is Rs 56.40 per share and 52-week low price is Rs 37.01 per share, respectively. The company has a market capitalisation of Rs 9180.94 crore. Easy Trip Planners shares soared 24% in last 3-months, fell 1.41% in last 1-year, and offered return of 43% in last 2-years.

About: EaseMyTrip (a public listed company at NSE and BSE) is India's one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zeroconvenience fees during bookings.