14,425 Per Cent Returns in 3 Years & FIIs Increase Stake: Multibagger Small-Cap Stock Under Rs 120 Hit Back-to-Back Upper Circuits
In October 2024, FIIs increased their stake to 26.31 per cent, up from 24.21 per cent in September 2024.
Eraaya Lifespaces, a global lifestyle and hospitality leader, blends Indian heritage with luxury to create unforgettable experiences. We excel in event curation and innovative content, exceeding expectations and fostering lasting memories. On Wednesday, shares reached an upper circuit limit at Rs 113.30, marking a 5 per cent increase from the previous closing price of Rs 98.85. This robust performance follows a period of impressive growth, with the stock delivering multibagger returns of 700 per cent in the past year and an astounding 14,475 per cent over the past three years.
Key drivers of this strong performance include strategic acquisitions, such as the recent acquisition of Ebix Inc. USA, and significant contract wins. The company's subsidiary, EbixCash, secured a substantial five-year contract worth over Rs 100 crore with ITI Limited for data centre management. Additionally, EbixCash secured a five-year contract valued at Rs 33.5 crore with KSRTC for implementing a comprehensive ticketing solution across 84 depots utilizing over 10,000 Android-based smart ticketing machines. Furthermore, a recent 10:1 stock split has enhanced liquidity and made the stock more accessible to a wider range of investors.
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Foreign Institutional Investors (FIIs) have demonstrated strong confidence in Eraaya Lifespaces, significantly increasing their stake in the company. In October 2024, FIIs increased their stake to 26.31 per cent, up from 24.21 per cent in September 2024. This, coupled with the company's strong fundamentals and strategic growth initiatives, positions Eraaya Lifespaces for continued success in the years to come.
Disclaimer: The article is for informational purposes only and not investment advice.