Debt-Free Multibagger Stock Hit 18 Consecutive Upper Circuits & 52-Week Highs: Will the Rally Come to a Halt?
The stock gave multibagger returns of 6,372 per cent in just 1 year and a whopping 24,040 per cent in 3 years.
On Wednesday, the shares of Eraaya Lifespaces Limited were locked in a 5 per cent upper circuit to Rs 1,786.25 per share from its previous closing of Rs 1,701.20. The stock also made a fresh 52-week high of Rs 1,786.25 per share and its 52-week low is Rs 28.98 per share. stock. In the recent trading sessions, the stock has been hitting back-to-back upper circuits (the 18th upper circuit today). The stock gave multibagger returns of 6,372 per cent in just 1 year and a whopping 24,040 per cent in 3 years.
Recent Update
Global software and e-commerce provider Ebix Inc. has officially exited bankruptcy and is now under new ownership. In a strategic move, Eraaya Lifespaces Ltd., a publicly traded company on the Bombay Stock Exchange, has acquired Ebix. This acquisition marks a significant milestone for Ebix, as it becomes debt-free and can focus on expanding its operations. Despite filing for bankruptcy earlier this year, Ebix continued to function without interruption. Eraaya's investment will not affect the company's day-to-day activities.
Ebix Plans for Growth and Expansion
Ebix is poised to expand its operations, leveraging its expertise in software development, distribution, and global regulatory compliance. The company seeks to attract more investors from around the world. Founder Robin Raina will maintain his role as Chief Executive Officer and Chairman of Ebix, and has also been appointed Chairman of the Board for Eraaya Lifespaces Ltd. To ensure a smooth transition and effective integration, a high-level steering committee has been formed to oversee Ebix's operations. To strengthen its financial position, Eraaya Lifespaces plans to raise up to Rs 1,028.7 crore through a preferential issue of compulsorily convertible warrants. These warrants will be converted into equity shares.
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About Eraaya Lifespaces Limited: As a premier lifestyle and hospitality company, Eraaya Lifespaces is dedicated to crafting unforgettable moments that blend luxury with India's rich heritage. The company portfolio offers a diverse range of experiences, from exquisite events and innovative content to luxurious accommodations and immersive cultural encounters. Eraaya is seeking to thrive, expansion beyond its current scope as a strategic option embracing new business fields presents a promising avenue for growth, diversification, and sustained relevance in an ever‐evolving market. Eraaya has set its sights on exploring new business fields, driven by a vision to expand its horizons and unlock fresh opportunities via mergers and acquisitions of a varied bunch of businesses.
The company has a market cap of Rs 3,284 crore with a 3-year stock price CAGR of 520 per cent with debt-free status. According to Quarterly Results, the company reported net sales of Rs 2 crore in Q1FY25 and net profit increased by 1,887.5 per cent to Rs 0.95 crore in Q1FY25 compared to a net profit of Rs 0.05 crore in Q1FY24. In its annual results, the net sales increased by 1,52,311 per cent to Rs 297.20 crore and net profit increased by 341.6 per cent to Rs 0.34 crore in FY24 over FY23.
A question arises, Will the Rally Come to a Halt? Do let us know your thoughts in the comments below
Disclaimer: The article is for informational purposes only and is not investment advice.
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