Easemytrip shares rally 16% even as stock trades ex-bonus

Shares of Easy Trip Planners Ltd, the parent company of the online travel platform Easemytrip, surged more than 16 per cent during the trading session on Friday after the company stock traded ex-bonus earlier in the session. The company also launched EMT Desk, a comprehensive business travel platform for corporate travel on Thursday.

EaseMyTrip, a homegrown leading online travel tech platform, unveiled EMT Desk, an all-in-one platform tailored to transform corporate travel. Designed to meet the needs of modern businesses, EMT Desk combines strategic oversight, employee-friendly benefits, and real-time travel management under one intuitive system, said the media release.

Shares of Easy Trip planners settled at Rs 32.64 on Thursday, before the stock traded ex-date for the bonus shares. However, it opened at Rs 17.05 on Friday, rising 4.41 per cent over the adjusted closing price of Rs 16.32. The stock rallied 16.48 per cent to Rs 19.01 during the session, commanding a total market capitalization close to Rs 7,000 crore.

Despite this sharp rise, the stock is trading 35 per cent below its adjusted 52-week high at Rs 27, hit in February this year. However, the stock is up 33 per cent above its 52-week low at Rs 14.23, hit a month ago. Earlier this week, the company inaugurated its new office in Mumbai.

For investors, the stock might be showing a fall of 45-50 per cent to the investors in their demat accounts. This is because the stock has traded ex-date for bonus shares in a 1:1 ratio. It means the eligible investors will receive one bonus share of the company for each share held by them as on the record date.

The record date for the issue of bonus shares was earlier fixed as November 20, which was subsequently changed to Friday, November 29 due to stock market holiday on the account of Maharashtra Assembly Elections. Shareholders had approved the proposal of issue of bonus shares on November 15, 2024.

Listed in March 2021, Easy Trip Planners has been rewarding investors consistently with bonus issues and stock split. In February, 2021, the company announced a 1:1 bonus issue, followed by another bonus issue in November 2022 in a 3:1 ratio along with a stock split in 1:1 ratio. It is the third bonus issue in less than four years by the company.