Why Are EaseMyTrip Shares Rising Today?

Shares of travel-booking platform EaseMyTrip shot up on Wednesday after a massive block deal in the company’s stock hit the bourses.

What Happened? EaseMyTrip saw 97.1 lakh shares worth ₹42 crore change hands around noon, though it was not clear who had bought or sold the stock.

Promoters had sold a 2.3% stake on June 30. Co-founder Prashant Pitti had told CNBC-TV18 at the time that promoters did not intend to sell any more stake.

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EaseMyTrip recently entered a general sales agreement with SpiceJet to sell, promote, and market passenger tickets and other products and services offered by the low-cost airline in India.

Among new-age tech stocks, EaseMyTrip has delivered the best percentage returns on a per-share basis to investors since its IPO.

Price Action: EaseMyTrip’s share price was up 1.26% at ₹44.05 in afternoon trade on Wednesday.

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