Easy Trip Planners Sees a Sharp Rally After Promoter Assurance

Investors in Easy Trip Planners got a hefty dose of optimism as the stock shot up 15% on Monday, riding the wave of a clear and emphatic message from Chairman Nishant Pitti. His announcement? No more promoter stake sales, period. Pitti took to X (formerly Twitter) to underline his long-term commitment to steering the company’s future and expanding its global footprint. But let’s backtrack for a moment. Just last week, Pitti sold a 1.4% stake, raking in ₹78.32 crore, which raised a few eyebrows among investors. Fast-forward to January 6, and his assurance of zero future sales turned sentiment around. Throw in the promise of ambitious plans—corporate travel, luxury tourism, and international expansion—and you’ve got a narrative investors are eager to believe in. On the leadership front, it’s all change at EaseMyTrip. Pitti stepped down as CEO on January 1, handing over the reins to Rikant Pittie. While he cited personal reasons for the move, Pitti’s staying put as Chairman, ensuring his strategic vision continues to shape the company’s trajectory. He doubled down on this in his resignation letter, emphasizing his focus on the bigger picture and long-term growth. For investors, the reassurance couldn’t have come at a better time. The stock, despite Monday’s bounce, remains 34% off its 52-week high of ₹27, set back in February 2024. That said, it’s clawed back 25% from the October low of ₹14.23. Over the past year, the stock has dropped 25%, but the recent rally suggests confidence is creeping back. With Nishant Pitti’s pledge to maintain investor trust and Rikant Pittie stepping up as CEO, the stage is set for EaseMyTrip to tackle its next growth chapter. Promises of “big things coming” might just be the start of a turnaround story worth watching.

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