Easy Trip Planners’ Stock Soars 15% After Chairman Reassures Investors and Announces No Further Stake Sales

Shares of Easy Trip Planners Ltd., the parent company of online travel aggregator EasyMyTrip, surged by 15% on Monday, January 6, following a key announcement from its Chairman, Nishant Pitti. The surge came after Pitti confirmed that there would be no further stake sales by any promoters in the future, reassuring investors about the company’s direction.
Chairman’s Assurance and Strategic Focus
In a message shared on X (formerly Twitter), Pitti reassured investors of his ongoing commitment to shaping the company’s future and driving its international expansion. “Big things are coming,” he stated, reinforcing that “there is no promotor selling.” His statement came after a period of market speculation, particularly following his sale of a 1.4% stake in Easy Trip Planners on December 31, 2024, which raised ₹78.32 crore.
Pitti emphasized that the company, which has been profitable since its inception, follows a unique no-convenience-fee model. He outlined plans to expand globally and diversify into new verticals, including corporate travel and luxury tourism.
Leadership Transition
The announcement of Pitti’s decision to step down as CEO on December 31, 2024, was another significant development. Pitti cited personal reasons for his resignation, effective from January 1, 2025. Despite his exit from the CEO role, he will continue to serve as Chairman, focusing on strategic initiatives and overseeing the company’s growth.
As part of the leadership transition, Rikant Pittie has been appointed the new CEO of EasyMyTrip. The company is optimistic about its future under his leadership, as Pitti expressed confidence in the firm’s strong foundation and growth trajectory.
Investor Reassurance
In a statement on January 3, Pitti addressed concerns over his recent stake sale, clarifying that the move was not a sign of diminished confidence in EasyMyTrip’s future prospects. He reassured investors that the share sale was limited and confirmed there would be no further sales from his side. Pitti thanked investors for their support and expressed his commitment to helping the company achieve greater success.
Stock Price Reaction
Following the announcement, Easy Trip Planners’ stock surged by 15%, reaching an intra-day high of ₹17.84 on the Bombay Stock Exchange (BSE). However, the stock remains 34% below its 52-week high of ₹27, recorded in February 2024. On a positive note, it has gained over 25% from its 52-week low of ₹14.23, observed in October 2024. Despite a 25% decline in the stock’s value over the last year, the recent price surge signals renewed investor optimism.
With the leadership transition in place and strategic plans for expansion, Easy Trip Planners is poised for its next phase of growth, and the market seems to be responding positively to the renewed confidence from its Chairman and new CEO.