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2 Brokerages Give Buy Call To Services Stock For 33% Return, Turning Ex-Split, Ex-Bonus Next Week
Two brokerages namely Edelweiss and Monarch Net Worth Capital have assigned buy call to Easy Trip Planners Ltd. Edelweiss has recommended investors to buy Easy Trip Planners with a target price of Rs 452 apiece and likely return of 16% while Monarch Net Worth Capital has assigned buy rating as well with a target price of Rs 517 apiece and a return of 33%.
If you buy Easy Trip Planners Ltd, you will get maximum potential return of 33%. You will also get bonus shares and stock split as the stock recently announced 3:1 Bonus Issue, 1:2 Stock Split. The stock will go ex-bonus, ex-split on November 22, which is the record date fixed by the board of directors of the company.
Check key takeaways below:
1. Easy Trip Planners Ltd Stock Outlook
The current market price of the stock is Rs 389 apiece with a 52-week high at Rs 476 apiece and 52-week low at Rs 237 apiece, respectively. The company has a market capitalisation of Rs 8467 crore.
2. Easy Trip Planners Ltd Return
The small cap stock has given maximum return of 51% in last 1-year. The stock has declined 1.9% in last 3-months, 3% in last 1-month, and 3% in last 1-week.
3. Easy Trip Planners To Turn 3:1 Ex-Bonus, 1:2 Ex-Split Next Week
The board of directors of Easy Trip Planners stated in the regulatory filing, "This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, November 22, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for the following matters subject to the shareholders' approval to be obtained through postal ballot on Thursday, November 10, 2022: 1. Sub-division/Split of each existing equity share of face value of Rs. 2/- (Rupees Two only) into 2 equity shares of face value of Rs. 1/- (Rupee One Only) fully paid- up. 2. Issue of Bonus Equity Shares of the Company in the proportion of (Three) Equity Share of Rs 1/- each for every (One) existing Equity Share of Rs 1/- each."
The company has fixed November 22, 2022 as the Record Date.
4. Edelweiss On Easy Trip Planners
According to Edelweiss, Easy Trip is optimistic to continue its strong growth momentum in the coming years with steady profitability. The management's guidance is to accomplish gross booking revenue of Rs 6,500-7,000 crore in FY23.
The travel services company has strategically followed inorganic growth by acquiring innovative companies across diverse travel segments and is evolving into a complete travel ecosystem. It is also emphasizing on expanding its non-air verticals in the next fiscal, which is a positive.
5. Monarch Net Worth Capital On Easy Trip Planners
According to Monarch Net Worth Capital, it will continue to accomplish stature, better growth in take rates and better growth in the air segment as compared to the market leader MakeMyTrip. The company is expected to reap the benefits, given its unique positioning and asset-light model, and the higher growth prospects of the airline and hotel industries.
Disclaimer
The stock has been picked from the brokerage reports of Edelweiss and Monarch Net Worth Capital. Greynium Information Technologies, the Author, and the respective Brokerage Houses are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
