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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence  |  sumanspeaks.blogspot.com Travel & Hospitality · Turnaround Watch Easy Trip Planners At ₹5.78: The Hotel Business Is Growing Faster Than The Old Business Is Shrinking Near its 52-week low, EaseMyTrip is quietly turning into a different company than the one that listed in 2021 — and the next few quarters will decide whether that transformation shows up in the profit line. Easy Trip Planners Ltd trades around ₹5.78, with a market capitalisation of approximately ₹2,300 crore. That is close to its 52-week low of ₹5.74. At first glance, that looks like a stock the market has simply given up on. Look closer, and a more interesting picture emerges. The balance sheet is clean. Revenue is still growing. And one part of the business — hotels and holiday packa...
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Indian domestic bourses slumped on Tuesday, mirroring weak global shares after the historic overnight plunge in U.S. crude oil to below zero. This highlighted the economic damage caused by the coronavirus-led lockdowns. The barometer S&P BSE Sensex crashed by 1,011.29 points or 3.20% to 30,636.71.

The Nifty 50 index lost 280.40 points or 3.03% to end the day at 8,981.45. 

Banks shares witnessed major selling pressure, after several reports spoke that severe downturn and resultant job losses on account of the lockdown could lead to fall in consumer lending and a jump in bad loans for public and private  lenders. 

In my last post I recommended a buy on  State Bank of India at Rs.188 -- both the targets have been achieved. Congratulations to all who made money. 

Shares of IT companies also saw declines  after US President Donald Trump temporarily suspended all immigration into United States. 

Back home, a rapidly rising number of Covid-19 cases in India and the resultant deaths also put pressure on the bourses. 

In the broader market, the S&P BSE Mid-Cap index fell 2.73% while the S&P BSE Small-Cap index slipped 2.96%.

I feel this is the end of short term rally and you should book out profits and exit from the market, as plunging of oil prices could make some of the Gulf countries go bankrupt. 

We have sold all our open positions except Nifty shorts, which we holding with targets of 8800/8200/7700. This time the Nifty spot could break 6000 mark. We are sitting with cash.

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