This stock hit 14th straight upper circuit today; has soared 102% in 3 wks

Shares of Eraaya Lifespaces were locked in their upper circuit for the 14th straight trading day, up 5 per cent at Rs 1,620.20, on the BSE on Monday. In the past three weeks, the BSE listed stock has zoomed 102 per cent from a level of Rs 801.05 seen on August 26. Currently, Eraaya Lifespaces is trading under 'XT' group on the BSE. The stock is not listed on the National Stock Exchange (NSE).

The 'XT' group on the BSE is a sub-segment for securities in the Trade-for-Trade (T) group. The 'T' group is a surveillance measure that requires securities to be settled on a trade-to-trade basis. The 'XT' sub-segment is reviewed every six months.

Eraaya Lifespaces, on August 30, had announced that the company has completed the payment of $151.577 million (Rs 1273.25 crore) for the acquisition of Ebix Inc. USA and its global subsidiaries. With this landmark, Eraaya will be the holding company of Ebix Inc. and all its subsidiaries henceforth.

The acquisition, concluded following a successful bid in June 2024, witnessed Eraaya's consortium emerging as the top bidder in the auction managed by the US Bankruptcy Court.

EBIX Inc. is a leading international supplier of On‐Demand software and E‐commerce services to the insurance, financial, and healthcare industries. The company provides end‐to‐end solutions ranging from infrastructure exchanges, carrier systems, agency systems, and risk compliance solutions to custom software development for all entities involved in the insurance industry.