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Shares of EaseMyTrip surge as it inks an MoU with Uttarakhand Government

04 October 20232 mins read by Angel One
EaseMyTrip has partnered with the Uttarakhand Government to enhance the state's tourism status through a Memorandum of Understanding worth over Rs 250 crore.
Shares of EaseMyTrip surge as it inks an MoU with Uttarakhand Government
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EaseMyTrip has entered into a significant Memorandum of Understanding (MoU) with the Government of Uttarakhand, paving the way for a substantial investment exceeding Rs 250 crore aimed at enhancing Uttarakhand’s global tourism profile.

This historic MoU heralds a transformative partnership that is poised to catapult Uttarakhand into the international tourism limelight. The collaboration will see the launch of an extensive array of dynamic joint marketing campaigns, meticulously tailored to target diverse markets encompassing the UK/Europe, Middle East, Asia, USA/Canada, and more. Leveraging EaseMyTrip’s extensive global reach and robust platforms, these campaigns are poised to significantly bolster awareness and allure tourists and events to the enchanting state of Uttarakhand.

Easy Trip Planners (EaseMyTrip) holds the distinction of being India’s second-largest online travel agency, boasting impressive gross revenue figures. This partnership is expected to have a positive ripple effect on employment within the tourism sector, thereby fostering economic growth and prosperity throughout Uttarakhand. This collaboration perfectly aligns with EaseMyTrip’s mission to simplify travel, making it more accessible and affordable for all.

As of writing this article Easy Trip’s stock is trading at Rs 42.20, reflecting an increase of 0.16 points or 0.38% compared to its previous closing price of Rs 42.04 on the BSE. The stock opened at Rs 41.81 and reached a high of Rs 42.62, with a low of Rs 41.81. A total of 788,478 shares have been traded thus far.

In terms of its market performance, Easy Trip, a BSE group ‘A’ stock with a face value of Rs 1, has achieved a 52-week high of Rs 73.50 and a 52-week low of Rs 37.11. Over the past week, the stock’s high and low stood at Rs 43.08 and Rs 40.20, respectively. The current market capitalisation of the company stands at Rs 7,462.06 crore, with promoters holding 71.30% of shares, while institutions and non-institutions hold 5.05% and 23.66%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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