Latest news with #AshishJaitly
Mint
2 days ago
- Business
- Mint
5800% rally in five years! Small-cap stock under ₹50 inches higher after THIS update on Indian subsidiary
Small-cap stock: Eraaya Lifespaces share price surged nearly 4% during Wednesday's trading session following the announcement that its Indian flagship subsidiary, Ebix Technologies Limited, received the Capability Maturity Model Integration (CMMI) Maturity Level 5 certification. This certification represents the highest rating awarded by the CMMI Institute, as indicated by the company in a filing to the exchange. Eraaya Lifespaces share price opened at ₹ 44.75 apiece on the BSE, the stock touched an intraday high of ₹ 46.20, and an intraday low of ₹ 42.50 per share. In a filing with the exchange, the company announced that this esteemed accreditation marks a significant milestone in Ebix Technologies' growth path, positioning it within a distinguished category of global technology firms. It greatly improves the company's chances of participating in substantial tenders from the Government of India (GoI) and intricate enterprise technology initiatives across various industries. 'This achievement isn't just a quality benchmark; it's a strategic accelerator for our business. It opens doors to a broader and more prestigious pipeline of government and enterprise engagements while reinforcing our commitment to excellence, predictability, and performance,' ' said Ashish Jaitly, Managing Director, Ebix Technologies Limited. Eraaya reported a net loss of ₹ 6 crore in Q4 FY25 compared to a net loss of ₹ 20.84 crore in Q3 FY25. Nevertheless, the company had recorded a net profit of ₹ 0.22 lakh during the same time a year earlier. On a quarter-on-quarter (QoQ) basis, revenue from operations plummeted 89% to ₹ 1.88 crore from ₹ 16.99 crore in the corresponding period last year. Conversely, the figure saw an increase of 248% year-on-year (YoY) from ₹ 54 lakh in the same time last year. In addition to the financial results, the board of Eraaya Lifespaces has also approved plans for the company's expansion. "The Board has granted its in-principle approval for an investment of up to ₹ 125 crores in emerging and futuristic business(es) to enhance the company's presence,' stated the company. These ventures are expected to align with the company's strategic roadmap for long-term value creation, as well as its vision to improve synergy, encourage diversification, and expand business presence, all subject to the successful completion of due diligence, adherence to relevant statutory and regulatory requirements, and obtaining necessary approvals if applicable.
Mint
2 days ago
- Business
- Mint
5800% rally in five years! Small-cap stock under ₹50 inches higher after THIS update on Indian subsidiary
Small-cap stock: Eraaya Lifespaces share price surged nearly 4% during Wednesday's trading session following the announcement that its Indian flagship subsidiary, Ebix Technologies Limited, received the Capability Maturity Model Integration (CMMI) Maturity Level 5 certification. This certification represents the highest rating awarded by the CMMI Institute, as indicated by the company in a filing to the exchange. In a filing with the exchange, the company announced that this esteemed accreditation marks a significant milestone in Ebix Technologies' growth path, positioning it within a distinguished category of global technology firms. It greatly improves the company's chances of participating in substantial tenders from the Government of India (GoI) and intricate enterprise technology initiatives across various industries. 'This achievement isn't just a quality benchmark; it's a strategic accelerator for our business. It opens doors to a broader and more prestigious pipeline of government and enterprise engagements while reinforcing our commitment to excellence, predictability, and performance,' ' said Ashish Jaitly, Managing Director, Ebix Technologies Limited.
