Travel Stock Jumps 8% on Corp Announcements: Stock Split, Board Meeting & More

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Travel Stock Jumps 8% on Corp Announcements: Stock Split, Board Meeting & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the travel agency company Easy Trip Planners (NS: EASM ) jumped to multi-week highs on Tuesday, trading 8.06% higher at Rs 413.75 apiece at the time of writing.

The stock rallied after the operator of EaseMyTrip.com announced that its board in a meeting scheduled for next week would consider a proposal for two corporate rewards for shareholders.

In an exchange filing to the NSE and BSE on Tuesday, the digital ticket booking company informed that its board of directors will consider the proposal for an increase in authorised share capital, issue of bonus shares and/or sub-division/split of shares, at its board meeting scheduled on Oct 10, 2022.

Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.

Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

The mid-cap scrip has jumped almost 54% so far in the year (YTD) and has skyrocketed almost 295% since its listing on the Indian exchanges last year in March.

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  • Rajesh Pahuja @Rajesh Pahuja
    Good company in the right business. Target 500 by 10th October
    Like 0
  • Hardeep Singh @Hardeep Singh
    Thanks for great info
    Like 0

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