Multibagger stock hits upper circuit for the fifth straight session. Do you own?

Eraaya Lifespaces share price continued its upward trajectory, hitting the 5% upper circuit at ₹118.95 per share on the BSE on Thursday. This marks the fifth consecutive session where the Eraaya Lifespaces stock has been locked in the upper circuit, driven by strong buying momentum.

Over the past week, Eraaya Lifespaces shares have surged over 26%, while the small-cap stock has gained 49% in the last six months. Notably, Eraaya Lifespaces share price has delivered multibagger returns, skyrocketing over 700% in the past year and an extraordinary nearly 13,000% over the last two years.

Order win

Recently, a report stated that Ebixcash, a subsidiary of the company, has bagged a significant contract worth over ₹33.5 crore from Karnataka State Road Transport Corporation.

As per media reports, Eraaya Lifespaces’ subsidiary, Ebixcash, has commenced the rollout of a comprehensive ticketing solution for the Karnataka State Road Transport Corporation (KSRTC).

Ebixcash’s Transport Division has been appointed as the technology partner for the supply, commissioning, and maintenance of Smart Electronic Ticketing Machines (ETMs) under KSRTC’s comprehensive ticketing system, according to the report.

The five-year contract, valued at approximately ₹33.5 crore, encompasses all State-run buses and involves the deployment of Ebixcash’s Automatic Fare Collection System (AFCS) on Android-based ticketing devices.

The project includes the initial deployment of over 10,000 devices across 84 depots, supporting a fleet of 8,000 buses, with plans to scale up to 15,000 devices over the next five years.

Ebixcash offers mobile, web, and Android-based ticketing platforms. Its Transport Division currently serves nine government bus transport corporations, including major State transport bodies in Maharashtra, West Bengal, Andhra Pradesh, Rajasthan, and now Karnataka.

In December, Eraaya Lifespaces also informed that ITI Ltd, under the Ministry of Communications, Government of India, has selected EbixCash, a subsidiary of Eraaya Lifespaces Ltd., as its Technology Partner for operating and managing its MeitY-empanelled Data Centre (DC).

“This prestigious contract spans a period of five years and holds an order value exceeding ₹100 crore. The Data Centre division of EbixCash has officially received the Contract Agreement to undertake this critical initiative for ITI Limited, a Central Public Sector Undertaking,” Eraaya Lifespaces said.

At 1:25 PM, Eraaya Lifespaces shares were still locked at 5% upper circuit of ₹118.95 apiece on the BSE.