Easy Trip Planners shares climb 15% after Chairman Nishant Pitti says ‘no more stake sale’ | Stock Market News

Shares of Easy Trip Planners Ltd., the parent company of the online travel aggregator EasyMyTrip, witnessed a significant 15 percent surge on Monday, January 6, following an announcement by its Chairman, Nishant Pitti, that no further stake sales by any promoters would occur in the future.

Pitti took to X (formerly Twitter) to assure investors about the company’s direction. He emphasized his commitment as Chairman to shape the company’s future and drive its international operations. “Big things are coming,” Pitti wrote, reiterating that “there is no promotor selling.”

In his message, Pitti highlighted Easy Trip Planners’ profitable operations since its inception and the company’s distinctive no-convenience-fee model. He stated that the company is focused on global expansion and plans to enter new verticals, including corporate travel and luxury tourism.

Pitti’s announcement came after a notable development on December 31, when he sold a 1.4 percent stake in Easy Trip Planners through an open market transaction, raising ₹78.32 crore.

The company’s leadership structure also underwent a change recently. On December 31, Pitti announced his resignation as Chief Executive Officer (CEO), effective January 1, 2025, citing personal reasons. Despite stepping down as CEO, Pitti continues to serve as Chairman, where he will focus on strategic initiatives and oversee the company’s growth trajectory.

In his resignation letter, Pitti wrote, “I, Nishant Pitti, Chairman and CEO of Easy Trip Planners Limited, hereby tender my resignation from the position of CEO due to personal reasons with effect from January 01, 2025. Kindly accept this resignation and relieve me from being the CEO of the company and acknowledge the receipt of this resignation.”

Following Nishant Pitti’s departure as CEO, EaseMyTrip announced the appointment of Rikant Pittie as its new Chief Executive Officer. The leadership transition marks a strategic move for the online travel aggregator as it gears up for its next phase of growth.

On January 3, addressing concerns about his recent stake sale, Nishant Pitti reassured investors that this decision does not indicate any lack of confidence in EaseMyTrip’s promising future.

Nishant Pitti emphasized the company’s strong foundation and growth potential under Rikant Pittie’s leadership. “With a talented team and Rikant’s visionary leadership, EaseMyTrip is on a strong growth path,” Pitti stated.

He also pledged his commitment to maintaining investor trust, confirming that his share sale was thoughtfully limited and assuring that no further sales from his side would take place.

Expressing gratitude for the unwavering support from investors, Pitti added, “To honor your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side. Thank you for your unwavering support. Together, we will achieve even greater success. The best is yet to come!”

Stock Price Trend

The stock surged 15 percent on BSE to its intra-day high of ₹17.84. The stock is now 34 percent away from its 52-week high of ₹27, hit in February 2024. Meanwhile, it has advanced over 25 percent from its 52-week low of ₹14.23, recorded in October 2024. In the last 1 year, the stock has lost 25 percent.