Shares of Easy Trip Planners rose 7.79% on Tuesday, February 18, trading at Rs 10.24, up Rs 0.74 in early session. The stock has seen strong buying interest after recent stake acquisitions and fundraising plans.
Arthkumbh Ventures LLP acquired 3.92 crore shares, representing a 1.08% stake in the company, at Rs 9.41 per share. The transaction was valued at Rs 36.97 crore. Earlier, Craft Emerging Market Fund PCC, through Citadel Capital Fund, bought 2 crore shares (0.5% stake) worth Rs 13.54 crore at Rs 6.77 per share, indicating selective institutional participation in the counter.
In the previous session, the stock had surged as much as 18%, extending gains to 35% over two trading sessions. With a market capitalisation of around Rs 3,335 crore, the stock is currently trading at a PE of 127, compared to the industry PE of 44.2.
The company has also announced plans to raise up to Rs 500 crore through equity or other eligible securities, including QIP, rights issue or preferential allotment, aimed at funding expansion in hotels, holiday packages and technology upgrades.
Operationally, gross booking revenue stood at Rs 2,213 crore, while EBITDA rose 15% QoQ with margins at 8.6%. Dubai operations recorded 133% YoY growth and hotel bookings increased 84% YoY, reflecting diversification beyond air ticketing.
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