EaseMyTrip surges 7% a day after hitting 52-week low; check out the latest update

The stock surged as the company, via its exchange filing, said that the online travel tech platform has entered into an exclusive partnership with PhonePe for launching its Hotels segment on the platform. This collaboration aims to enhance the user experience by providing seamless access to millions of domestic and international hotels. 

The EaseMyTrip Hotels platform is recognised for its user-centric approach, featuring a seamless interface, competitive pricing, and flexible booking options, including free cancellations, the company said.

"This collaboration marks the beginning of a broader strategy aimed at enhancing the travel booking experience for millions of PhonePe users across India. By combining EaseMyTrip's expertise in travel with PhonePe's expansive reach, this partnership is poised to redefine convenience in travel planning, ensuring users can book their entire journey, from accommodation to activities, all within one platform," the company's press release added.

Commenting on the partnership, Ms. Sonika Chandra, Chief Business Office, Consumer Payments, PhonePe, said, “We are excited to partner with EaseMyTrip to create a differentiated and seamless hotel booking experience for our users with the best deals on our platform. Indians are increasingly travelling for leisure both domestically and abroad, and this is part of our strategy to provide our 560+ million users with the best travel booking experience available in India. We expect this to be one among a series of milestones in the travel category and look forward to continually growing this partnership with EaseMyTrip together."

Today's movement in the stock is a sharp contrast to what happened in the previous session. The shares of the company tumbled on Wednesday. It hit a 52-week low after a huge block deal. 

In the evening, data showed that Nishant Pitti, one of the promoters of Easy Trip Planners, on Wednesday divested a 14% stake in the company for ₹920 crore through open market transactions. According to bulk deal data available on the NSE, Nishant Pitti sold 24,65,49,833 shares, amounting to a 14% stake in Easy Trip Planners.