10:1 stock split: Multibagger small-cap stock surges after bagging contracts worth Rs 133.50 crore from KSRTC & ITI Ltd
The stock gave multibagger returns of 2,400 per cent in just 1 year and a whopping 26,800 per cent in 3 years.
On Thursday, shares of Eraaya Lifespaces Limited surged 1.95 per cent to Rs 2,047.45 per share from its previous closing of Rs 2,008.30 per share. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 83.10 per share. The stock gave multibagger returns of 2,400 per cent in just 1 year and a whopping 26,800 per cent in 3 years.
Eraaya Lifespaces Limited's subsidiary, EbixCash, has made significant strides in the technology and transportation sectors. The company has been awarded two major contracts:
1. Comprehensive Ticketing Solution for KSRTC EbixCash's Transport Division has clinched a five-year, Rs 33.5 crore contract with Karnataka State Road Transport Corporation (KSRTC). The deal involves the implementation of a comprehensive ticketing solution, including the deployment of over 10,000 Android-based smart ticketing machines across 84 depots. This state-of-the-art system, powered by EbixCash's Automatic Fare Collection System (AFCS), will enable seamless digital payments and enhance the overall passenger experience.
2. Data Center Operations and Management for ITI Limited EbixCash has been selected as the technology partner to operate and manage a data center for ITI Limited, a public sector undertaking under the Ministry of Communications. The five-year contract, valued at approximately Rs 100 crore, entails a range of responsibilities, including data center administration, pre-sales support, operations, maintenance, and customer relationship management.
Strategic Implications
These contracts underscore EbixCash's growing prominence in the technology and transportation sectors. The KSRTC deal strengthens the company's position as a leading provider of e-ticketing solutions for government bus transport, while the ITI Limited contract solidifies its expertise in data center operations and management. By leveraging its advanced technology solutions, EbixCash aims to drive efficiency, improve customer satisfaction, and contribute to the digital transformation of key sectors in India.
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About the Company
Eraaya Lifespaces, a renowned lifestyle and hospitality company, is committed to crafting unforgettable experiences worldwide. Rooted in India's rich heritage, we blend luxury, comfort, and style to create immersive environments. From curating flawless events to producing innovative content, Eraaya exceeds expectations and creates lasting memories. As we embark on a journey of expansion, Eraaya is poised to explore new business fields, driving innovation, and creating value for stakeholders. Our recent acquisition of Ebix Inc. USA marks a significant step towards diversifying our portfolio and shaping the future of business. The market capitalisation of the company is Rs 3,771 crore and an impressive 3-year stock price CAGR of 500 per cent.
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 Board fixed the record date for the stock split as Friday, December 06, 2024.
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 the rest 36.69 per cent stake is owned by the public.
Disclaimer: The article is for informational purposes only and not investment advice.