Rs 7.77 to Rs 902.40 per share in just 3 years: Multibagger stock hit back-to-back upper circuits & 52-week highs; Do you own it?
The stock gave multibagger returns of 6,052 per cent in just 1 year and a whopping 11,619 per cent in 3 years.
On Thursday, the shares of Eraaya Lifespaces Limited were locked in a 5 per cent upper circuit to Rs 902.40 per share from its previous closing of Rs 859.45. The stock also made a fresh 52-week high of Rs 902.40 and its 52-week low is Rs 15.40. stock. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.
Recent Updates
Eraaya Lifespaces Limited, through its consortium, has made significant progress in acquiring Ebix Inc. By successfully raising Rs 248.50 crores through a Qualified Institutional Placement on August 14, 2024, and remitting USD 37 Million (Rs 310.80 Crores) towards the acquisition, Eraaya has fulfilled a major milestone in its acquisition strategy. The consortium's initial bid of USD 361 Million (Rs 3,009 crore) for 100 per cent equity in Ebix Inc. was accepted as the highest and best bid during the auction process overseen by the U.S. Bankruptcy Court. With a total acquisition value of USD 361 Million, the consortium has already deposited USD 93.327 Million (Rs 783.95 crore) and plans to complete the final payment of USD 58.25 (Rs 489.30 crore) within August 2024. This acquisition will grant the consortium ownership of Ebix Inc.'s equity, assets, and certain liabilities in its worldwide subsidiaries.
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About EBIX INC.
EBIX INC. is a global technology company specializing in on-demand software and e-commerce solutions for the insurance, financial, and healthcare sectors. With operations spanning six continents, the company offers a comprehensive suite of products including infrastructure exchanges, carrier systems, agency management tools, and risk compliance solutions. EBIX's "Phygital" strategy combines its extensive physical distribution network in Southeast Asia with an online platform, driving growth in financial services like remittances, forex, and travel. The company processes billions of dollars in insurance premiums annually, operates in major airports worldwide, and serves millions of customers through its SaaS-based software platforms.
About Eraaya Lifespaces Limited
Eraaya Lifespaces, a leading lifestyle and hospitality company, curates unforgettable experiences that blend luxury, comfort, and style. Rooted in Indian heritage, Eraaya offers unique escapes in iconic destinations and creates immersive environments beyond just living. Their commitment to excellence extends to flawless events, innovative content, and creating lasting memories. Eraaya seeks to expand its horizons through strategic acquisitions, leveraging its strong foundation and vision to explore new business ventures. This journey positions Eraaya to drive innovation, create stakeholder value, and shape the future of business in an ever-evolving market.
The company has a market cap of Rs 1,659 crore with a 5-year stock price compound annual growth rate (CAGR) of 180 per cent. 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.
The stock gave multibagger returns of 6,052 per cent in just 1 year and a whopping 11,619 per cent in 3 years. Investors should keep an eye on this Small-Cap
Disclaimer: The article is for informational purposes only and is not investment advice.
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