10:1 stock split & FIIs bought 5,24,093 shares: Multibagger small-cap stock under Rs 2,000 hit upper circuit on November 19
The stock gave multibagger returns of 2,817 per cent in just 1 year and a whopping 26,275 per cent in 3 years.
On Tuesday, shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 1,951.65 per share from its previous closing of Rs 1,858.75. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 66.90 per share. The stock gave multibagger returns of 2,817 per cent in just 1 year and a whopping 26,275 per cent in 3 years.
Eraaya Lifespaces Limited is a prominent lifestyle and hospitality company that curates exceptional experiences rooted in India's heritage. Their portfolio encompasses a wide range of offerings, including captivating events, innovative content, luxurious accommodations, and immersive cultural encounters. Recognizing the dynamic market landscape, Eraaya is actively exploring strategic expansion opportunities beyond its current scope. By embracing new business fields through mergers and acquisitions, the company aims to diversify its operations, unlock new growth avenues, and maintain its relevance in an ever-evolving market. The company has a market capitalization of Rs 3,690 crore and an impressive 3-year stock price CAGR of 500 per cent.
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Eraaya Lifespaces Limited has announced a proposed stock split in the ratio of 10:1. This means that each existing share will be divided into ten new shares. EbixCash, a subsidiary of Eraaya Lifespaces, secured new contracts worth Rs 250 million annually. These multi-year deals cover healthcare, e-commerce, and more, and will see EbixCash expand its workforce to 11,000 by 2025.
According to the shareholding pattern as of October 2024, FIIs bought 5,24,093 shares and increased their stake to 26.31 per cent compared to 24.21 per cent in September 2024. As of October 2024, the promoters of the company own 35.17 per cent stake, FIIs own 26.31 per cent, DIIs own 1.84 per cent and rest 36.69 per cent stake is owned by public.
Disclaimer: The article is for informational purposes only and not investment advice.