Debt-Free Multibagger Stock Jumps Over 10 Per Cent As Board Likely to Announce Stock Split Tomorrow & Company Secured Order Of Rs 250 Million
Over the past year, the stock has delivered multibagger returns of 6,000 per cent and over 3 years, it has surged by an astonishing 36,000 per cent.
The company informed the exchange that a meeting of the Board of Directors of Eraaya Lifespaces Limited is scheduled to be held on Saturday, October 19, 2024, in New Delhi to transact, inter-alia, to decide regarding stock split/division in the nominal value of equity shares of Eraaya Lifespaces Limited to enhance liquidity and encourage better investor participation.
Additionally, EbixCash Global Services, a subsidiary of Eraaya Lifespaces, has secured significant new contracts valued at Rs 250 million annually. These multi-year deals span various industries including healthcare, e-commerce, agriculture, and telecom, demonstrating EbixCash's diverse service offerings. The company will provide business operations, process management, and customer care services to clients like Tata Tele Business Services, Rozgar.com, Sahyadri Hospitals, and a major automobile organization. These contracts are expected to drive sustainable growth for Ebix and further strengthen its client base.
With a current capacity of 6,000 seats across 13 centres, EbixCash boasts long-term client relationships averaging over seven years. To meet the demands of these new contracts, the company plans to expand its workforce to 11,000 by December 2025, showcasing its commitment to growth and job creation in India.
Stock Updates
On Friday, shares of Eraaya Lifespaces Limited gained over 10 per cent to an intraday high of Rs 2,679.95 per share from its intraday low of Rs 2,552.40 with a spurt in volume by more than 1.01 times on BSE. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 44.22 per share. Over the past year, the stock has delivered multibagger returns of 6,000 per cent and over 3 years, it has surged by an astonishing 36,000 per cent.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
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 over Rs 4,800 crore with a 3-year stock price CAGR of 520 per cent & 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 not investment advice.