Home Business & Economy EaseMyTrip Rises 17% As Shares Trade Ex-Split, Ex-Bonus; Key Things Investors Should Know

EaseMyTrip Rises 17% As Shares Trade Ex-Split, Ex-Bonus; Key Things Investors Should Know

0
EaseMyTrip Rises 17% As Shares Trade Ex-Split, Ex-Bonus; Key Things Investors Should Know

[ad_1]

EaseMyTrip Bonus Shares: EaseMyTrip Shares are trading ex-bonus. The board of directors of the company fixed 22nd November 2022 as the record date to finalize eligible beneficiaries for the issuance of bonus shares and stock subdivision. Ahead of record date for stock split and bonus shares, EaseMyTrip share price shot up nearly 17 per cent in opening deals on Monday. EaseMyTrip share price today opened upside and went on to hit intraday high of Rs 57.30 apiece levels, logging to the tune of 17 per cent upside within few minutes of the stock market’s opening bell today.

The company’s board had approved and declared bonus shares in 3:1 ratio along with stock split in the ratio of 1:2.

In one of its latest stock market exchange communication, EaseMyTrip said, “This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, November 22, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for the following matters subject to the shareholders’ approval to be obtained through postal ballot on Thursday, November 10, 2022: 1. Sub division/Split of each existing equity share of face value of Rs. 2/- (Rupees Two only) into 2 equity shares of face value of Rs. 1/- (Rupee One Only) fully paid- up. 2. Issue of Bonus Equity Shares of the Company in the proportion of (Three) Equity Share of Rs 1/- each for every (One) existing Equity Share of Rs 1/- each.”

This is for the second occasion in 2022 when EaseMyTrip shares are trading ex-bonus. In February 2022, EaseMyTrip shares had traded ex-bonus for issuance of 1:1 bonus shares.

EaseMyTrip Stock Split

A stock split increases the number of shares that are outstanding by issuing more shares to the current shareholders. Stock split decreases the market price of the individual shares, however, does not result in changing the market capitalization of the company.

A company engages in stock split decision to make its stock more affordable if its price levels are very high, which in thus would lead to increase in liquidity in the stock. Meanwhile, bonus shares are fully paid additional shares issued by a company to its existing shareholders.

One of the largest online travel platforms in India, EaseMyTrip, has reported a record Q2FY23 Gross Booking Revenue (GBR) of Rs 1,977.7 Crores, the highest ever in any quarter.

Manoj Dalmia Founder and Director-Proficient Equities Limited, said: “EaseMyTrip company’s board has approved and declared bonus shares in 3:1 ratio along with stock split in the ratio of 1:2. Record date as being of November 22, investors can buy it with long term perspective as the travel sectors is to pick up in upcoming quarters.”

On a consolidated basis, the company has reported revenue from operations of Rs 108.5 crore in Q2FY23 compared to Rs 56.65 crore posted in Q2FY22, representing a YoY gain of 91.52 per cent. The company reported a net income of Rs 112.07 crore in Q2FY23 compared to Rs 59.78 crore posted in Q2FY22, representing a YoY gain of 87.5 per cent. “Strong GMV bookings by EaseMyTrip incentivizes on the huge pent-up demand post-COVID and growth opportunities within the industry,” said EasyMyTrip in a note.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

[ad_2]

Source link