Easy Trip Hits 20% Lower Circuit To Hit 30-Month Low After Large Trades

Share price of Easy Trip Planners Ltd. fell to hit its lowest level since March 8, 2022 after nearly 5% stake in the company changed hands in large trades. The stock also hit its 20% lower circuit limit.

On the NSE, 8.64 crore shares or 4.9% stake in the company changed hands through 25 large deals at prices in the range of Rs 32.78 and Rs 35.

Data on the BSE as of quarter ended June 30 showed that promoter and promoter group held 64.30% stake in the company and 35.70% stake was held by public.

The stock's total traded volume on the NSE so far in the day stood at 32.51 times its 30-day average.

The scrip hit its 20% lower circuit intraday to Rs 32.78 apiece, the lowest level since March 8, 2022, before paring gains to trade 13.8% down at Rs 35.27 apiece, as of 1:09 p.m. This compares to a 0.2% decline in the NSE Nifty 50.

It has fallen 12.49% on a year-to-date basis and 12.92% in the last 12 months. The relative strength index was at 31.10.

Out of the two analysts tracking the company, one recommends a 'hold,' and another suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 10%.