2500% rally YTD! Multibagger stock Eraaya Lifespaces to consider stock split

Multibagger Stock: Shares of Eraaya Lifespaces were in focus on Monday, October 14, after the company said its board will meet later this week to consider a stock split.

The meeting of the board members is slated to be conducted on Saturday, October 19. The company aims to enhance liquidity by way of a stock split along with encouraging investor participation.

The company in an exchange filing today, said, “... 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 take decision regarding split/division in the nominal value of Equity Shares of Eraaya Lifespaces Limited to enhance liquidity and encourage better investor participation.”

Apart from the stock split, the company will consider various other businesses such as the appointment of Arun Batra as Director-Operations and Vivek Dave, as an Independent Director; the constitution of an ESG Committee and adoption of comprehensive ESG policies; review of business activities across verticals and locations and consider reports from TPO Bharat, an External Expert Group.

The board will also consider the note of progress of inquiry instituted against Robin Raina and realign the structure of subsidiary Ebix Inc.

Eraaya Lifespaces Stock Price Performance

Following this announcement, the stock was trading over 3 per cent higher on the BSE at ₹2,950 around 1.15 pm. The stock rose up to 4 per cent to the day’s high of ₹2,965 today.

In 2024 so far, the stock has risen 2,501 per cent while on a one-year basis, the stock is up 7,299 per cent, delivering multibagger returns to investors.

The stock hit a 52-week high of ₹3,169 on October 7, 2024, while it scaled a 52-week low of ₹40.87 on October 13, 2024.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.