Penny stocks attract investors a lot in the stock market. However, betting on such shares is quite risky. Despite this, investors take risks for strong returns in a short time.
Let us tell you that usually shares less than Rs 10 are called penny stocks. Today we are telling you about one such stock that has given strong returns to its investors in a short time.
We’re discussing the stakes held by Eraaya Lifespaces Ltd. The company’s stock is constantly hitting the upper circuit these days. Today on Friday also, during trading, these shares rose 5% and are in the upper circuit of Rs 947.50
7000% return in a year
The share of Eraaya Lifespaces Ltd has been making strong profits for a year. In a year, this stock rose from Rs 15 to Rs 947.50. Let us tell you that on August 31 last year, the price of this share was Rs 15.
In six months, the company’s share has increased from Rs 265 to Rs 947.50. During this period, it has seen a rise of up to 260%. So far this year, on the trading day of 2024, this stock has seen a rise of 715%.
Let us tell you that on January 1 this year, the price of this stock was Rs 116. At the same time, in five years, the share of Areya Lifespace Limited increased from Rs 7 to the current price.
With time, it has delivered a huge return of up to 13,000 percent. That is, an investment of one lakh would have become more than Rs 1 crore in these five years.
Company Business
Let us tell you that Areya Lifespaces Limited is a company in India. It is mostly involved in the manufacturing business of bicycles, automotive parts, engineering products, and electrical appliances like refrigerators, motors, and insulators.
Let us tell you that recently Areya Lifespace announced that its led consortium has paid US$37 million (about Rs 310.80 crore) to acquire Ebix Inc.
Areya completed the Qualified Institutional Placement (QIP) issue on August 14, 2024. This raised about Rs 248.50 crore.
Quick Fact
Company name: Eraaya Lifespaces
| Company name | Eraaya Lifespaces |
|---|---|
| Stock rise in a year | 7000% |
| Stock rise in six months | 260% |
| Stock rise in 2024 | 715% |
| Stock rise in five years | 13,000% |
| Business sectors | Bicycles, Automotive parts, Engineering products, Electrical appliances |
| Recent acquisition | Ebix Inc. |
| Acquisition amount | ₹310.80 crore |
| QIP issue date | August 14, 2024 |
| QIP amount raised | ₹248.50 crore |
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