Small-cap stock below ₹50 hits upper circuit despite negative trend in Indian stock market
Eraaya Lifespaces share prices were locked in the 5% upper circuit limit during Thursday's trading session, despite a downward trend in the Indian stock market. The stock experienced positive momentum following the company's announcement regarding its subsidiary, Ebix Travels Private Limited (Via.com), which has broadened its Nationwide Business Associate Centre Network.
In an official filing with the exchange, the company noted that the Business Associate Centre (BAC) initiative has successfully established over 20 Business Associate Centres throughout India, and there is a bold plan in place to grow to 100 centres by the conclusion of FY 2025–26.
'The launch of our Business Associate Centres represents more than just geographical expansion – we are creating a nationwide network of innovation hubs that reflect our unwavering commitment to revolutionizing India's travel landscape.
Each BAC embodies our core values: technological excellence, customer-centricity, and empowerment of local travel professionals. This initiative is our bold step towards building a more inclusive and accessible travel ecosystem that reaches every corner of our nation,' said Naveen Kundu, Managing Director of Ebix Travels Via.com
As per the exchange filing, Via.com has strategically allocated its BACs throughout Delhi, Punjab, Uttar Pradesh, Jammu & Kashmir, Rajasthan, Uttarakhand, Tripura, Jharkhand, West Bengal, Karnataka, Tamil Nadu, Madhya Pradesh, and Gujarat, guaranteeing strong nationwide coverage in both established and developing markets.
In its exchange filing, the company noted that with the Indian travel sector expected to keep growing, the BAC network provides Via.com with a scalable, adaptable, and effective growth framework. As it moves towards its goal of establishing 100 centers, the company remains dedicated to empowering local entrepreneurs, raising travel standards, and promoting innovation throughout the nation.
This initiative not only strengthens the operational capabilities of Ebix Travels Pvt, but it also demonstrates Eraaya Lifespaces's strategic focus on transformative, inclusive, and technology-driven business growth.
Eraaya Lifespaces share price today opened at ₹ 48.25 apiece on the BSE. Over the last week, the stock increased by 13.10%. The stock has decreased by -32.74% over the past three months and has declined by -34.88% over the past year.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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