September 26, 2024
New Delhi, India
EaseMyTrip Shares
Shares of EaseMyTrip (Easy Trip Planners) surged nearly 7% on Thursday, September 26, closing at ₹36.70 on the BSE. The stock jump came after the company revealed a significant partnership with PhonePe, India’s leading digital payments platform, to launch a dedicated Hotels segment within PhonePe’s ecosystem.
Key Highlights
- Partnership with PhonePe: The collaboration gives PhonePe users access to millions of domestic and international hotel options via the EaseMyTrip platform. It also promises exclusive deals and competitive pricing on hotel bookings, with plans to expand into activities and cabs soon.
- Seamless Travel Experience: The partnership is expected to streamline the travel booking process for millions of PhonePe’s 560+ million users by integrating EaseMyTrip’s user-friendly interface and hotel offerings into the app.
- Stock Performance: The stock’s rise contrasts sharply with its previous session, where it hit a 52-week low after a massive block deal. On Wednesday, Nishant Pitti, one of the company’s promoters, sold a 14% stake (24.65 crore shares) in EaseMyTrip, amounting to ₹920 crore through open market transactions.
EaseMyTrip Shares were trading 5.71% higher at Rs. 36.27 a piece at 12:14 P.M IST.
What’s Next?
This strategic partnership marks the beginning of a broader initiative by EaseMyTrip to tap into PhonePe’s large user base. According to the company’s statement, the collaboration is aimed at redefining the convenience of travel booking in India. With travel demand rising, particularly for both domestic and international leisure trips, this partnership positions EaseMyTrip to strengthen its market presence.
PhonePe’s Sonika Chandra, Chief Business Officer, expressed excitement about the partnership, highlighting the potential to provide users with a “differentiated and seamless hotel booking experience,” ensuring top deals and convenience.
As EaseMyTrip plans to further integrate activities and cab bookings on PhonePe, this partnership is likely to boost user engagement and drive long-term growth. Investors and travelers alike will be closely monitoring future developments from this promising collaboration.
Disclaimer:
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