EaseMyTrip emerges winner amidst India-Maldives row! Easy Trip Planners, the parent company of online travel tour operator easemytrip.com, has attracted the attention of traders on Dalal Street as its stock gained nearly 27% in the past five days. The surge in stock price came after the company’s top officials announced that they will not offer flights to Maldives, amidst the ongoing dispute between New Delhi and Male.
Easy Trip shares soared by almost 17% to Rs 51.81, making it one of the top gainers on the BSE on Thursday. The company’s decision to launch an insurance subsidiary, EaseMyTrip Insurance Broker, also contributed to the positive sentiment among market participants, according to an ET report.
Analysts believe that the company’s move to suspend flight bookings to Maldives has piqued the interest of the market, which is seeking new investment opportunities. By not offering packages to the Maldives and capitalizing on the nationalistic sentiment, the company has positioned itself well, said Arun Kejriwal, founder of Kejriwal Research and Investment Services. However, he added that while the stock may see a 2-3% increase, further significant gains are not expected.The tensions between India and Maldives escalated following offensive comments made by three Maldivian ministers about Prime Minister Narendra Modi and India. On January 8, Easy Trip’s CEO, Nishant Pitti, stated on X, “In solidarity with our nation, @EaseMyTrip has suspended all Maldives flight bookings.”
According to Ambareesh Baliga, an independent consultant, the comments on the India-Maldives row have garnered attention. However, this stance is not likely to have a major impact on the company’s revenues and profits.

Kejriwal mentioned that the introduction of the insurance venture would not have significantly affected the stock price if it weren’t for the market’s fascination with the company following the Maldives comment.
Easy Trip, with a market capitalization of Rs 9,180.94 crore, underperformed on Dalal Street in 2023, with the stock declining by approximately 25% during the year, while the BSE 500 index recorded gains of almost 25%.
Read From ET |Easy Trip Planners stock reaction
Market participants advise caution despite the current momentum that could drive the share price higher. In the current market, the shares could reach Rs 60 due to the momentum already gained, but they are likely to settle around Rs 47-48, said Baliga. He advised that investors should be cautious about new purchases at these levels, but should hold their positions with a trailing stop loss.