6,964 Per Cent Returns From 52-Week Low: Debt-Free Multibagger Stock Hit Back-to-Back Upper Circuits & 52-Week Highs; Do You Own It?
The stock gave multibagger returns of 6,964 per cent in just 1 year and a whopping 30,000 per cent in 3 years.
On Wednesday, the shares of Eraaya Lifespaces Limited were locked in a 5 per cent upper circuit to Rs 2,067.75 per share from its previous closing of Rs 1,969.30. The stock also made a fresh 52-week high of Rs 2,067.75 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 & 52-week highs. The stock gave multibagger returns of 6,964 per cent in just 1 year and a whopping 30,000 per cent in 3 years.
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.
Eraaya Lifespaces Limited will be holding a Board meeting on September 27, 2024, to restructure its leadership and align with post-acquisition strategic goals. The meeting will focus on reconstituting the Board, Key Management Personnel, and core team, enhancing operational efficiency, and ensuring seamless integration of Ebix.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Following its recent acquisition of Ebix Inc., a global software and e-commerce provider, Eraaya aims to leverage Ebix's expertise to expand its operations and attract more investors. Despite Ebix's previous bankruptcy, its operations continued uninterrupted, and Eraaya's investment will not affect day-to-day activities. To support this growth, Eraaya has strengthened its financial position through a preferential issue of compulsorily convertible warrants, raising Rs 1,028.7 crore.
The company has a market cap of Rs 4,190 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.
Disclaimer: The article is for informational purposes only and is not investment advice.