Easy Trip Planners Shares Dip as Promoter Plans Major Stake Sale

Easy Trip Planners ended the year on a shaky note as its shares took a steep dive on Tuesday, December 31. Opening nearly 7% lower at ₹15.76, the stock tumbled to a day’s low of ₹15.36 before managing to claw back some losses and close 6.92% down at ₹15.87. The final trading day of 2024 was anything but smooth for the online travel platform. The trigger? Reports emerged that co-founder and promoter Nishant Pitti plans to sell off his remaining 14.21% stake via a block deal estimated at a hefty ₹780 crore. Big names like Citadel Capital Fund, Elite Capital Fund, and Eminence Global Fund are reportedly gearing up to participate in the transaction. This potential shake-up has left the market uneasy, prompting the sharp sell-off. Technically, the stock faces significant resistance in the ₹16–₹16.5 zone, according to analysts.  ₹14.85 could serve as strong support, with the stock likely to consolidate within this range for the next few sessions. A clear break above ₹16.5, however, could inject some fresh buying momentum, offering a glimmer of hope for bullish traders.

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