Shares of Easy Trip Planners Ltd. (EaseMyTrip) saw a sharp decline of over 12 per cent on Wednesday morning following reports of a significant block deal.
By 11:45 am, shares of Easy Trip Planners had plunged 12.55 per cen to Rs 35.88 on the BSE, while on the NSE, the stock was trading at Rs 35.48, down 13.42 per cent.
The day started with the stock opening at Rs 39.19 on the BSE, which was 4.5 per cent lower than Tuesday’s closing price of Rs 41.03.
The share price continued its downward trajectory, reaching an intraday low of Rs 37.40, marking an 8 per cent drop from the previous day.
A block deal worth Rs 176.5 crore was executed on the exchanges, involving around 4.6 crore shares, equivalent to a 2.6 per cent stake in EaseMyTrip, at a floor price of Rs 38 per share.
Over the past year, shares of Easy Trip Planners have declined by 1.8 per cent, while the BSE Sensex has gained 28.6 per cent during the same period.
As of the June 2024 quarter, promoter Nishant Pitti held a 28.13 per cent stake in the company, Prashant Pitti owned 10.29 per cent, and Rikant Pittie held 25.88 per cent.