The counter traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The scrip's 14-day relative strength index (RSI) came at 29.12. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The steep decline in share price was triggered by news that promoter Nishant Pitti plans to sell 15 crore shares, representing 8.5% of the company's total share capital, in a block deal.

The scrip hit its 20% lower circuit intraday to Rs 32.78 apiece, the lowest level since March 8, 2022, before paring gains to trade 13.8% down at Rs 35.27 apiece, as of 1:09 p.m. This compares to a 0.2% decline in the NSE Nifty 50.

Nishant held 49,84,10,788 shares or 28.13 per cent stake in Easy Trip Planners as on June 30. Rikant held 45,86,40,176 shares or 25.88 per cent stake, while Prashant owned 18,23,27,120 shares or 10.29

The company's Co-founder and CEO Nishant Pitti was the likely seller in the multiple block deals transacted on the counter

Easy Trip Planners shares have posted negative returns across various time frames. Over the past month, the stock fell 13.21%, while it declined 18.93% in the last six months. Year-to-date, shares dropped 12.

The indicative price for the sale is set at ₹41.5 per share, as per sources. As of the end of the first quarter, Pitti held a 28.13% stake in Easy Trip Planners. Shares of Easy Trip Planners Ltd ended at ₹41.

Easy Trip Planners expanded into medical tourism by acquiring 30% of Rollins International for ₹60 Crore and 49% of Pflege Home Healthcare Centre for ₹30 Crore.

Shares of Easy Trip Planners fell 8% intraday to ₹37.75 after 17.6 crore shares (9.9% of total equity) were traded in a block deal. Promoter Nishant Pitti is set to sell up to 8.5% of his stake, valued at ₹622 crore.

Nishant Pitti held 28.13% of the company’s equity stake as of June 2024, according to the data available on the exchange website. A total of 64.3% of the equity in the company is held by the promoter and the promoter group.

The stock fell 7.46 per cent to hit a low of Rs 37.96 on BSE. With this, the stock is down 13.60 per cent in the past six months. It has also erased its year-to-date gains.