Shares of Easy Trip Planners rose over 4 per cent in intra-day deals on Wednesday, October 9 after the company announced that its board is likely to consider bonus share issue in a meeting on October 14.
“Pursuant to Regulation 29 and other applicable Regulations, if any, of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that a meeting of Board of Directors of the Company is scheduled to be held on Monday, October 14, 2024 at 01:00 P.M. through video conferencing, inter alia, to consider and approve the issue of bonus shares,” it said in an exchange filing.
What are bonus shares?
Bonus shares are additional shares that a company issues to its existing shareholders at no extra cost, based on the number of shares they already own. These shares are distributed in a specific ratio, such as 1:2, meaning shareholders receive one additional share for every two they hold. Bonus shares are issued from the company’s retained earnings or reserves, helping to boost liquidity without altering ownership structure. While they don’t provide new capital to the company, they increase the total number of shares outstanding, often improving share price affordability and enhancing trading activity.
Stock Price Trend
The stock rose as much as 4.85 per cent to the day’s high of ₹34.57. Post today’s rise, the stock is now 36 per cent away from its record high of ₹54, hit in February 2024. Meanwhile, it is up 9 per cent from its 52-week low of ₹31.71, recorded earlier this week.
The scrip has lost over 19 per cent in the last 1 year and over 14 per cent on a year-to-date (YTD) basis. The stock is flat, up half a per cent in October so far after two straight months of losses. It shed over 14 per cent in September and 4 per cent in August.
