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Sensex, Nifty Advance; Easy Trip Planners Hits Record High

Shares of Easy Trip Planners advanced to an all-time high after the company signed a memorandum of understanding to develop tourism in Assam.

The share rose a whopping 17.10% to an all-time high of Rs 67.1 per share. The total volume traded is 19.8 times the 30-day average. The relative strength index is 81, suggesting the stock may be overbought.

EaseMyTrip, the company’s online travel platform, has signed a MoU with Assam Tourism Development Corporation.

The purpose of this deal is to share resources and work together to boost tourism growth in the Indian state of Assam.

EaseMyTrip will provide white label solutions to endorse ATDC properties on its website and mobile application along with the entire booking process and payment gateway.

Of the four analysts following the company, two maintain “buy,” one suggests “hold,” and one recommends “sell.” The return potential of the share implies a downward trend of 15.7%.

Source: Bloomberg, Exchange filings

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