FIIs bought 5,24,093 shares & 10:1 stock split: Multibagger stock under Rs 100 Hit Upper Circuit on January 10
The shares of the company saw a spurt in volume by more than 6 times on BSE.
On Friday, shares of Eraaya Lifespaces Limited jumped 5 per cent upper circuit to Rs 98.85 per share from its previous closing of Rs 94.15 per share. The stock’s 52-week high is Rs 316.90 per share and its 52-week low is Rs 13.61 per share. The shares of the company saw a spurt in volume by more than 6 times on BSE.
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 2,828.70 crore and an impressive 3-year stock price CAGR of 500 per cent.
Recently, Eraaya Lifespaces Limited's subsidiary, EbixCash, has secured a significant five-year contract worth over Rs 100 crore with ITI Limited, a Central Public Sector Undertaking. EbixCash will be the technology partner for operating and managing ITI Limited's MeitY-empanelled Data Centre. The division is also consulting on the development of 1,000 rack spaces for ITI Limited, overseeing the entire process from design to implementation. Additionally, EbixCash secured the first, five-year, Rs 33.5 crore deal with KSRTC, which involves implementing a ticketing solution across 84 depots using over 10,000 Android-based smart ticketing machines.
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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 641 per cent in just 1 year and a whopping 12,575 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.