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Smallcap stock jumps after announcing 1:1 bonus issue

Published 14-10-2024, 04:34 pm
© Reuters.  Smallcap stock jumps after announcing 1:1 bonus issue
EASM
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Shares of India’s second-largest online travel agency which offers a comprehensive range of travel-related products and services for end-to-end travel solutions rose by nearly 1.5% after the board approved a 1:1 bonus issue.

Share price variations:

With a market capitalization of Rs. 5,987.73 crores, the shares of Easy Trip (NS:EASM) Planners Ltd. rose to an intraday high of Rs. 34.70 representing a 1.49 percent increase from its previous closing price of Rs. 34.19 per share.

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Reason for the Rise:

According to exchange filings, Easy Trip Planners Ltd.‘s board has approved the issuance of bonus shares in a 1:1 ratio, meaning that for every equity share held by eligible shareholders as of the record date, one additional equity share with a face value of Rs. 1 will be issued.

The Pre-bonus issue paid-up share capital as of date is 1,77,20,40,618 equity shares of Rs. 1 each aggregating Rs. 177.20 Crores and the Post-bonus issue paid-up share capital will be 3,54,40,81,236 equity shares of Rs. 1 each aggregating to Rs. 354.40 Crores.

Recent Updates and Acquisitions:

In October, the company entered into a Share Subscription Agreement for a 30% stake in Rollins International Private Limited, which operates in the wellness and healthcare industry. It also established a wholly-owned subsidiary, Easy Green Mobility, to venture into electric bus manufacturing.

In September, the company launched ScanMyTrip.com, a marketplace that allows OTAs, MSMEs, travel agents, and homestays to list their offerings—flights, hotels, and homestays—on the ONDC network.

Recent Colaborations:

In September, the company partnered with PhonePe to launch its Hotels segment on the platform and collaborated with Bank of Baroda (NS:BOB) to introduce a Travel Debit Card aimed at frequent travelers and lifestyle enthusiasts.

Recently, in July, it signed an agreement with the Uttar Pradesh EcoTourism Development Board to boost tourism in the state. Additionally, in April, the company entered into an agreement with Adani Digital Labs to enable direct access to duty-free shopping on its platform.

Financial Performance:

For Q1FY25 the company reported a net profit increase of 30 percent to Rs. 33.93 crore from Rs. 25.91 crore in Q1FY24, while revenue from operations marked an increase of 23 percent to Rs. 152.6 crore from Rs. 124.05 crore in comparison to the same period.

In Q1 FY25, gross bookings revenue was composed of nearly 89 percent from flight bookings, 9.3 percent from hotels and holiday packages, and 1.8 percent from train and bus bookings.

About the company:

Easy Trip Planners Limited, India’s second-largest online travel agency, offers a comprehensive range of travel-related products and services, providing end-to-end travel solutions. These include airline tickets, hotels, holiday packages, rail and bus tickets, taxis, and ancillary services such as travel insurance, visa processing, and tickets for activities and attractions.

Written By: Joseph Pv

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The post Smallcap stock jumps after announcing 1:1 bonus issue appeared first on Trade Brains.

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