EaseMyTrip – NSE Nifty50 and BSE Sensex gained across all five sessions, ending the week 4.2% and 4.3% higher at 16,719.45 and 56,072.23, respectively. Delhivery shares gained as much as 10% to end Friday’s session at INR 667.9 on the BSE. PB Fintech shares hit a new all-time low this week, ending the Friday session at INR 520 on the BSE.
EaseMyTrip Win Big
Delhivery, EaseMyTrip, Cartrade Tech, Fino Payment were among the top gainer this week. Share of Delhivery gained as much as 10% to end Friday session at INR 667.9 on the BSE. It was followed by Easy Trip Planner, parent of EaseMyTrip, with a gain of over 7%, ending the week at INR 404.05 on the BSE.
After surging 5.7% last week, One 97 Communication, parent of Paytm, ended Friday’s session at INR 743.10, up more than 4.8%. However, shares of Zomato fell more than 1% for the week, while PB Fintech and Nazara Technologies also finished slightly lower.
Delhivery steals the show
Logistics startup Delhivery saw another strong week with its share ending at a new high of INR 699.95 on Thursday July 21 on the BSE. Its share also hit an all time high of INR 706 during intraday trading on Thursday.
After the rally, Delhivery market capitalization passed the INR 50,000 Cr mark on the week, becoming one of the top 100 companies in term of market capitalization. It joined the list of Indian conglomerate such as Mahindra & Mahindra, Adani Enterprises, Godrej Consumer Product, among other.
The market capitalization of Delhivery, the newest tech stock listed on Indian stock exchanges, also surpassed that of One 97 Communication. However, it lost some of the gains on Friday, finishing 4.6% lower than Thursday close at INR 667.9, with a total market capitalization of INR 48,389.57 Cr.
EaseMyTrip Rises Over 7%
The parent brand of online travel company EaseMyTrip, Easy Trip Planners, experienced one of its best week since May of this year.
Share of the traveltech company were range bound and traded below INR 400 for about a month after May 24, when the shares had touched a price of INR 459.2. Stock saw an uptrend in early July, but began to fall again.
The rise in share price is a reflection of the dynamism in the travel sector, as travel numbers currently look quite good, said Rahul Dani, a research analyst at Monarch Networth Capital. Online travel aggregators OTA are expected to be among the first to reap the benefit of buoyant trend in the travel industry.