Shares of Easy Trip Planners Ltd fell sharply on Tuesday, plunging nearly 7% to an intraday low of ₹12.50, after reports surfaced that the Enforcement Directorate (ED) conducted raids at the company’s offices. The stock had closed at ₹13.33 in the previous session but saw a sudden selloff in early afternoon trade, reflecting investor concerns over regulatory scrutiny.
The Enforcement Directorate (ED) has reportedly conducted raids at multiple locations linked to online travel company EaseMyTrip, including premises associated with its promoter Nishant Pitti, according to sources familiar with the matter. The raids are part of a broader investigation into a high-profile betting scam, with the agency said to have carried out operations at over 50 locations across the country. This development marks another significant crackdown in the ongoing probe, although official details from the ED are still awaited.
This development comes on the same day the ED also raided the premises of JTL Industries, which led to a 7% drop in its stock price. In a separate operation related to the Mahadev betting app case, the ED carried out raids in at least 15 cities, including Delhi, Mumbai, Jaipur, Indore, Chennai, Chandigarh, Ahmedabad, and Sambalpur. The multi-location crackdown is part of a broader probe into money laundering, hawala transactions, and the use of shell firms.
As of now, investors remain cautious, with EaseMyTrip among the top losers on NSE during Tuesday’s session.
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