Shares of Easy Trip Planners, which runs EaseMyTrip.com, soared 17% to hit an all-time high of Rs 66.80 in intraday trade on Tuesday. Shares of the travel and travel-related services company are up 40% over the past two sessions following Monday’s 3:1 dividend and 1:1 stock split ex-dividend. It surpassed the previous high of Rs 59.56 on May 25, 2022 (adjusted for stock splits and dividends).

The company has set November 22, 2022, as the record date for determining the eligibility of shareholders entitled to bonus shares and stock splits.

The Board of Easy Trip Planners has approved the split/split of the existing shareholding of Rs on October 10, 2022. With 2 shares at Rs 2 each. 1. The board of directors also approved giving 3 shares to the company for every 1 share held, which can be converted into 1 share.

Easy Trip Planners has stated that over the years, the company and its subsidiaries have achieved significant growth in business and performance. This is reflected in the company’s share price.

“As the stock price rises further, it will become more and more difficult for small shareholders to participate in the company’s future. In the spirit of tolerance, the board of directors has approved and recommended the company’s above-mentioned corporate actions to repay shareholders,” the company said.

With gains over the past two days, Easy Trip Planners shares have risen 113% over the past year, compared with a 4.8% gain for the S&P BSE Sensex.

Easy Trip Planners or EaseMyTrip.com (EMT) is India’s fastest-growing and only profitable online travel portal. The company provides a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotel and holiday packages, and rail and bus tickets.

For the first half (April-September) of the current fiscal year 2022-23 (H1FY23), the company’s gross booking revenue (GBR) stood at Rs 3,641 crore, equivalent to full-year FY22 GBR. Analysts at ICICI Securities expect GBR to grow at a CAGR of 41.2% during FY22-25 as the company fully recovers and aggressive advertising campaigns to gain market share.

A lean cost model and no-fee strategy remain the key pillars supporting this rapid, profitable growth. This also leads to customer stickiness, with a healthy repeat transaction rate of about 86% in the B2C channel. International expansion into countries such as UAE, Philippines, Thailand, and the US will help the company increase revenue and continue to grow.

High-margin segments such as hotels (Traviate – B2B technology platform, Spree Hospitality – hotel management company and bus booking division (Yolo – intercity mobility platform) will bring in more revenue, the broker said in a company update. The stock is currently trading above its target price of Rs 63 per share.