Back-To-Back Upper Circuits & FIIs bought 5,24,093 shares: Small-Cap Company Bags Order Worth Rs 1,335 Million From ITI Ltd & KSRTC
The stock gave multibagger returns of 700 per cent in just 1 year and a whopping 15,150 per cent in 3 years.
On Thursday, shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 118.95 per share from its previous closing of Rs 113.30 per share. The stock’s 52-week high is Rs 316.90 per share and its 52-week low is Rs 14.72 per share. The stock gave multibagger returns of over 700 per cent from a 52-week low of Rs 14.43 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.
Eraaya Lifespaces Limited has announced significant business updates from its Indian subsidiary, EbixCash. Firstly, EbixCash has secured a five-year contract worth Rs 335 million with the Karnataka State Road Transport Corporation (KSRTC) to provide a comprehensive ticketing solution. This involves implementing an Automatic Fare Collection System (AFCS) on Android-based ticketing devices, enabling various digital payment options for passengers. This contract will see the deployment of over 10,000 devices across KSRTC's network, serving a fleet of 8,000 buses.
Secondly, EbixCash has been chosen as the Technology Partner for operating and managing the Data Center of ITI Limited, a public sector undertaking under the Ministry of Communications. This prestigious long-term contract, valued at approximately Rs 1,000 million, encompasses a range of responsibilities, including data center administration, operations, maintenance, and customer relationship management. This partnership leverages EbixCash's expertise in technology solutions and strengthens its position in the data center management market.
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About the Company
Eraaya Lifespaces is a premier lifestyle and hospitality company renowned for curating unforgettable experiences worldwide. Rooted in Indian heritage and a passion for excellence, Eraaya blends luxury with cultural immersion, offering unique escapes and crafting flawless events. While a leader in its current domain, Eraaya seeks to expand its horizons through strategic acquisitions. This vision led to the successful acquisition of Ebix Inc. USA and its global subsidiaries in June 2024, a significant step in Eraaya's journey of diversification and growth into new business fields. This acquisition, valued at USD 361 Million, marks a pivotal moment for Eraaya as it embarks on this transformative journey, poised to drive innovation and create value for stakeholders in a dynamic and evolving market.
Eraaya Lifespaces Limited has declared a 10:1 stock split. This means that each existing share with a face value of Rs 10 will be divided into ten new shares, each with a face value of Re 1. The ex-date for the stock split was Friday, December 06, 2024. In October 2024, FIIs bought 5,24,093 shares and increased their stake to 26.31 per cent compared to a 24.21 per cent stake in September 2024.
The stock gave multibagger returns of 700 per cent in just 1 year and a whopping 15,150 per cent in 3 years. As of October 2024, the company's promoters own 35.17 per cent stake, FIIs own 26.31 per cent, DIIs own 1.84 per cent and the rest 36.69 per cent stake is owned by the public.
Disclaimer: The article is for informational purposes only and not investment advice.