EaseMyTrip will fund this acquisition issuing its equity shares to the selling shareholders of the three firms on a preferential basis, it said in a regulatory filing.
On July 19, 12 stocks were reportedly trending down in relative strength index (RSI), which measures the speed and change of price movements. Stocks with an RSI of 70 or greater are considered overbought, while those under 30 suggest the stock is oversold. Stocks identified by ETMarkets as trending down on July 19 included Maruti Suzuki India, UNO Minda and Hindustan Unilever.
EaseMyTrip is entering into an arrangement with SpiceJet as a strategic intervention which is an attempt for both companies to expand their services in the Indian market.
Travel agency company EaseMyTrip has signed a General Sales Agreement (GSA) with SpiceJet Airline. Under this agreement, EaseMyTrip will be responsible for selling and promoting the products and services offered by SpiceJet in India, thus helping customers avail the services of SpiceJet.
US-based private equity major TPG Capital on Friday sold its entire 11.25 per cent stake in automobile dealership chain Landmark Cars for Rs 293 crore through an open market transaction. With this transaction, TPG has exited the automobile dealership company.