Shares of EaseMyTrip surged by 14% after the company's board approved the incorporation of a subsidiary focused on manufacturing electric buses

EaseMyTrip announced the incorporation of a wholly-owned subsidiary focused on electric bus manufacturing, sparking a 14% surge in its stock price during Thursday's trade. The company's Board of Directors approved the plan on September 5, 2024, pending necessary approvals from the Ministry of Corporate Affairs.

Following the announcement, EaseMyTrip's stock soared to a high of Rs 44.38 per share on the NSE. This strategic move into the electric vehicle sector reflects the company's efforts to diversify its portfolio.

Earlier this year, EaseMyTrip was in the spotlight for suspending flight bookings to the Maldives amid a boycott trend, following remarks by Maldives ministers critical of PM Narendra Modi.

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