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EaseMyTrip Shares Surged 20% Amid India-Maldives Row

PAT rose 30.9% to Rs 33.9 crore, up from Rs 25.9 crore last year.

Shares of Easy Trip Planners, the company which operates the online travel portal EaseMyTrip, jumped almost 20% on Thursday amid the recent Maldives controversy and discount codes for domestic flights.  

EaseMyTrip shares hit an intraday high of Rs 52.80, up 19.3% from its last closing price on the National Stock Exchange (NSE). The stock was trading 17.1% higher at Rs 51.80. 

Following disparaging remarks by now-suspended Maldivian ministers against India and Prime Minister Narendra Modi, the Delhi-based travel aggregator suspended all flight booking to Maldives. 

In a statement addressed to EaseMyTrip CEO Nishant Pitti, the Maldivian tourism body urged the platform to re-open flight bookings to the island nation. The statement expressed their gratitude and emphasised the significance of Indian tourists for the Maldivian economy. 

Additionally, EaseMyTrip announced discount codes NATIONFIRST and BHARATFIRST aimed at fostering goodwill amongst its customers amid the row.

In other news, Easy Trip Planners also launched a subsidiary, EaseMyTrip Insurance Broker, to create a specialised product and diversify its services portfolio into the insurance market.

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