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  1. Easy Trip Planners share price jumps over 17% as Nishant Pitti promises 'no further stake sale'

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Easy Trip Planners share price jumps over 17% as Nishant Pitti promises 'no further stake sale'

Upstox

2 min read | Updated on January 06, 2025, 09:50 IST

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SUMMARY

Easy Trip Planners share price rose as much as 17.6% to ₹18.25 per share on the National Stock Exchange (NSE) in the early trade. At 9:30 am, it was up 6% to ₹16.45 apiece.

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Ease Trip Planners Ltd is the parent firm of online travel company EaseMyTrip.

Ease Trip Planners Ltd is the parent firm of online travel company EaseMyTrip.

Easy Trip Planners share price: Shares of online travel company EaseMyTrip operator Easy Trip Planners Ltd climbed over 17% on Monday, January 6, after the company's Chairman Nishant Pitti confirmed that there would be no further stake sale from his side.

In the early trade, the stock rose as much as 17.6% to ₹18.25 per share on the National Stock Exchange (NSE). At 9:30 am, it was up 6% to ₹16.45 apiece.

Taking to X on Monday, Pitti said that as a chairman, he will focus on shaping the company's future and driving international operations.

Stating that big things are coming, he confirmed that "there is no promotor selling".

"Operated profitably since inception with a no-convenience-fee model. Focused on global expansion and entering new verticals like corporate travel and luxury tourism," he said.

On December 31, Pitti divested a 1.4% stake in Easy Trip Planners for ₹78.32 crore via an open market transaction. He also resigned as its chief executive officer (CEO), citing personal reasons.

In his resignation letter, Pitti said, "I, Nishant Pitti, Chairman and CEO of Easy Trip Planners Limited, hereby tender my resignation from the position of CEO due to personal reasons with effect from January 01, 2025. Kindly accept this resignation and relieve me from being the CEO of the company and acknowledge the receipt of this resignation."

Following his departure from the top post, the company appointed Rikant Pittie as its new CEO.

On January 3, regarding the stake sale, Nishant Pitti assured investors that this move does not reflect any lack of confidence in EaseMyTrip's bright future.

"With a talented team and Rikant's visionary leadership, EaseMyTrip is on a strong growth path. To honor your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side. Thank you for your unwavering support. Together, we will achieve even greater success. The best is yet to come!," he added.

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