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Updated on March 29, 2023 7:04 am

Nomura picks stake in outperforming smallcap stock

major Nomura Singapore today bought 11.5 lakh shares of travel services provider . NSE bulk deal data showed that Nomura bought the stock at Rs 399 per share.

Shares of Easy Trip Planners, which listed on Dalal Street last year at Rs 212.25 on NSE in March last year, ended the day 3.8 per cent lower at Rs 393.50.

The smallcap stock which hit a 52-week low of Rs 261 in March this year has rallied around 47 per cent on a year-to-date basis.

In its June quarter result, the travel-tech startup reported a 125 per cent rise in the net profit to Rs 33.7 crore as compared to a net profit of Rs 14.9 crore in the same quarter the previous year.

The earnings for the online flight and hotel services provider, which operates under the brand name of EaseMyTrip, were supported by a strong demand recovery in the global travel segment.

“We have witnessed strong recovery in demand across our segments and are optimistic of the demand scenario going forward on the back of the ‘No Convenience Fee’ strategy, deeper internet penetration and rising demand for air travel and hotels due to higher income levels and the reopening of the economy,” Easy Trip had said in its investor presentation last week.


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