Why Are EaseMyTrip Shares Skyrocketing Today?

EaseMyTrip share price jumped over 8% on Monday to hit an intraday high of ₹46.80.

What Happened: Prior to the surge today, the stock was on a six-session losing streak. While it isn’t immediately clear what’s driving the impressive surge today, the company announced becoming the official travel partner of the World Padel League 2023. Padel is a racquet sport — a mix between squash and tennis.

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The company is providing comprehensive travel solutions to players, officials and fans attending World Padel League in Dubai. Talking about the partnership, the company’s co-founder Rikant Pittie said, that this association will help the company connect with a wider audience of sports enthusiasts. “We have been an active sports marketer and wish to show complete support in this tournament and more to come,'' added Pittie.

The surge comes as several of its peers in the new-age tech category have been on a bull run. Shares of Zomato, Delhivery and Nykaa were all surging in the green on Monday morning.

Price Action: Easemytrip share price was up 6.38% to trade at ₹45.85 in the early hours of trading on Monday.

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